Add myself as auth. user to wife's card vs trying to get 2nd card right now?

[Logan]

What the hey, I'll respond for the heck of it.

You gambled and won. Maybe the odds you'd lose (i.e. spending get out of control, lots of interest paid, other problems related to charged up card,s etc.) were very low, so it made financial sense to you to make that gamble. Good for you, and I'm not trying to be sarcastic.

Me, I can't find a card that would pay out enough to make it worth it. Yeah, get 5% cash back on certain purchases for a limited time does not equal 5% cash back on every dollar you spend. I think a card that AVERAGES 2% would be a pretty decent find. If you found one that averaged 3% on everything you bought, I'd be a bit skeptical (is it 3% on everything you buy period, or just a 3% average of what you charge to that particular card...what's the annual fee...etc.).

Now, if your card(s) average 3% cash back, you'd have to charge nearly $17,000 to get $500 ($17k would give you $510 to be exact). A more realistic 2% means you had to charge $25,000 to get that $500. Not counting purchases that could NOT be charged to a card, we didn't spend that kind of money last year. Without taking a couple hours to get the exact numbers, this is how a rewards card probably would have looked like for us last year. $10,000 at 2% cash back (even that's doubtful, it'd probably average to 1.5% or so) = $200. Subtract annual fee of $20 = $180. Subtract the piddly cash back we DID receive (such as 1% for gas with Wal-Mart Money Card, and remember target lets you have a red card that's attached to your checking account to get your 5%), and you're looking at around $150-$160. That's how much having a rewards card MIGHT have saved me. Could have been even less.

That $150 or so, to me, was not worth the gamble/hassle.

Actually, the credit card was at 1.25%. I'm pretty good at gambling since this year I'm earning more.
Dman, why don't you checkout Perkstreet.com. I just switched to them because the cashback beats my credit card. 2% back no fees.....can't beat that!!!

Logan

[Amy26]

"Check my posts...I don't come crashing into every thread asking for credit rebuilding tips and yell NONONONONO! This topic was already off course, and I jumped into the current conversation."

I never meant to imply that you did personally. Most of what I have said is usually directed at "them" and the "others". And what I have seen over the years on this board. You just happen to be the only one responding. ;)

Ugg... I didn't wanna reply but I will say this one last thing... I'm not talking about charging extravagant things like vacations and emergency car repairs. I'm talking about every day stuff that you're gonna buy no matter what... your utilities, groceries, sundries...etc. Temptation lies in life... you cannot escape it. There is a temptation to eat that cheesecake but do you resist it? Do you adjust your life to eat healthy? There is temptation in regard sex etc... we must deal with temptation everywhere. We can't lock ourselves up... if you can resist eating the last piece of chocolate cake I hope it would be much easier to resist charging a 3,000 cruise. And I guess we do agree on some things because if people cannot discipline themselves enough to not do these things then sure... take away the temptation by not using/seeing it. But do not liken our (I'm referring to people not you and me) own personal problems to credit is evil or bad... cheesecake is not evil either... but eating the whole thing isn't good for you.

[dman]

No, I was quoting what you said. I did not carry a balance.

Fair enough.

And to the last thing... wow... its not a "gamble" at all. There is no gambling. You're going to be spending the money regardless.

The gamble is in the temptation. No credit card = no temptation to carry a balance. No temptation to just charge that vacation you can't afford but definitely deserve. No temptation to not have an adequate emergency fund because if your car breaks down, you'll just charge the repairs. There's other scenarios too, but those are the biggies to me.

Sure people could fall back into bad habits... but its not place to keep tabs on the population and its not my place to judge people when they ask credit rebuilding questions. All you can do is educate people when they ask questions, hope they know what the hell they are doing and then mind your own business.

Check my posts...I don't come crashing into every thread asking for credit rebuilding tips and yell NONONONONO! This topic was already off course, and I jumped into the current conversation.

I'm not really gonna respond anymore cause I feel like we're beating a dead horse and I feel like most of what I say is going in one ear and out the other anyways. And when I ask a question it doesn't really get answered.

You don't have to respond, that's fine. But we're really not in total disagreement. Perhaps the I'm not wording something quite right, or you're reading it a bit wrong...yeah there's a difference of opinion, but I don't think it's actually that huge? And what question isn't getting answered?

I also do not akin using my credit cards to alcohol addiction. Perhaps someone with a spending addiction could be considered like an alcoholic at an AA meeting but using common sense and using your credit does not match up to that analogy to me.

No, that particular analogy would be credit cards = alcohol. There can be benefits to both if done properly. One should be aware of advantages and disadvantages of using both. Both can lead to a serious addiction, and excessive use can damage relationships with friends, family, even yourself. And companies on both sides want you to keep using their product, even if you do have a problem.

[Amy26]

Ok, so you DID carry a balance? Curious if this was due to an oversight, or perhaps one of those 0% deals that you did a cash withdrawal and let the money sit in a savings account for a bit? Or did you use the card as an emergency fund...or some other reason?

No, I was quoting what you said. I did not carry a balance.

And to the last thing... wow... its not a "gamble" at all. There is no gambling. You're going to be spending the money regardless. Whether you pay cash for it or not... its that simple. There is absolutely no difference in paying for everything with cash then having the money for it, charging it and then paying it off immediately. You were going to spend it anyways! Its not like freak purchases that you buy for no reason. Whether I pay cash for my groceries or charge them, I'd much rather run the charge through my credit card and MAKE MONEY ON IT. Sure, I'm not making thousands of dollars...but its SOMETHING and guess what it helps my credit whoopie. As I said before, I run about 3,000 to 5,000 a month through my rewards card... and I usually make back between 50 and 100 bucks a month. I'm not paying interest, I have no annual fee... its a win win... you cannot argue this point. There is no difference at all between paying for something with your credit card that you were going to buy with cash anyways... you have to come home and move the money to it of course, but as I said before its so easy a kid could do it.

Sure people could fall back into bad habits... but its not our place to keep tabs on the population and its not my place to judge people when they ask credit rebuilding questions. All you can do is educate people when they ask questions, hope they know what the hell they are doing and then mind your own business.

I'm not really gonna respond anymore cause I feel like we're beating a dead horse and I feel like most of what I say is going in one ear and out the other anyways. And when I ask a question it doesn't really get answered.

I also do not akin using my credit cards to alcohol addiction. Perhaps someone with a spending addiction could be considered like an alcoholic at an AA meeting but using common sense and using your credit does not match up to that analogy to me.

[dman]

Yep Amy, they're all right and we're wrong. At least I got over $500 cash back last year by using my credit card. I wonder what these guys got in cash back for spending their money?

What the hey, I'll respond for the heck of it.

You gambled and won. Maybe the odds you'd lose (i.e. spending get out of control, lots of interest paid, other problems related to charged up card,s etc.) were very low, so it made financial sense to you to make that gamble. Good for you, and I'm not trying to be sarcastic.

Me, I can't find a card that would pay out enough to make it worth it. Yeah, get 5% cash back on certain purchases for a limited time does not equal 5% cash back on every dollar you spend. I think a card that AVERAGES 2% would be a pretty decent find. If you found one that averaged 3% on everything you bought, I'd be a bit skeptical (is it 3% on everything you buy period, or just a 3% average of what you charge to that particular card...what's the annual fee...etc.).

Now, if your card(s) average 3% cash back, you'd have to charge nearly $17,000 to get $500 ($17k would give you $510 to be exact). A more realistic 2% means you had to charge $25,000 to get that $500. Not counting purchases that could NOT be charged to a card, we didn't spend that kind of money last year. Without taking a couple hours to get the exact numbers, this is how a rewards card probably would have looked like for us last year. $10,000 at 2% cash back (even that's doubtful, it'd probably average to 1.5% or so) = $200. Subtract annual fee of $20 = $180. Subtract the piddly cash back we DID receive (such as 1% for gas with Wal-Mart Money Card, and remember target lets you have a red card that's attached to your checking account to get your 5%), and you're looking at around $150-$160. That's how much having a rewards card MIGHT have saved me. Could have been even less.

That $150 or so, to me, was not worth the gamble/hassle.

[Logan]

LOL... ok well I can see this is a losing battle here. I don't have a temptation to use them just because. In fact, its not a temptation at all... it's simply to use them to my advantage. As explained, they are used just like it was cash. I don't need to put a wager on it because I've been living it quite some time. How is only charging what you have the cash to buy any different than only purchasing what you have the cash for? And then getting cash back on top of it. And I didn't become a statistic just because I carried balances. Again, is this stigma only placed on those that have filed for bankruptcy or is this a universal stigma?

Perhaps I'm giving the population more credit than they deserve... but isn't assuming the worst in everyone and all situations the same as guilty until proven innocent?

Yep Amy, they're all right and we're wrong. At least I got over $500 cash back last year by using my credit card. I wonder what these guys got in cash back for spending their money?

Logan

[dman]

LOL... ok well I can see this is a losing battle here. I don't have a temptation to use them just because. In fact, its not a temptation at all... it's simply to use them to my advantage. As explained, they are used just like it was cash. I don't need to put a wager on it because I've been living it quite some time. How is only charging what you have the cash to buy any different than only purchasing what you have the cash for? And then getting cash back on top of it. And I didn't become a statistic just because I carried balances. Again, is this stigma only placed on those that have filed for bankruptcy or is this a universal stigma?

Ok, so you DID carry a balance? Curious if this was due to an oversight, or perhaps one of those 0% deals that you did a cash withdrawal and let the money sit in a savings account for a bit? Or did you use the card as an emergency fund...or some other reason?

BTW, the whole wager thing was just a tongue-in-cheek thing, was not meant to be taken seriously. In my mind, having a card that you will use only for points, or to rebuild credit, or whatever is a bit of a gamble...you think you have enough self-control, and perhaps you do. But if you don't...you likely won't find out until it's too late.

Perhaps I'm giving the population more credit than they deserve... but isn't assuming the worst in everyone and all situations the same as guilty until proven innocent?

Assume the worst, hope for the best...sorry dunno why that phrase came to mind. I can think the best of people (I generally try to), but the whole credit thing is stacked against you. Offering tons of credit to a person fresh out of bankruptcy (or even before discharge...or heck even at the first signs that they're in financial trouble) is kinda like giving a beer to everyone at an AA meeting. They want to get/keep you hooked because it helps their bottom line. So, running with that analogy...some of us are addicted at various levels to credit (think of the rush you get when you get approved for a nice shiny card). Some of us should never have a card again, because it just takes one charge to fall off the wagon. Others of us know that there can be some moderate benefits to using credit responsibly and they are able to charge responsibly; but even those who aren't yet addicted need to know that it's possible to become addicted and have their charging get out of control (and adversely affect family and loved ones). So, treat credit with respect, know what power it can have over you, and be careful.

What was the original topic again? Oh yeah, AUs...I say go for it.

[Amy26]

LOL... ok well I can see this is a losing battle here. I don't have a temptation to use them just because. In fact, its not a temptation at all... it's simply to use them to my advantage. As explained, they are used just like it was cash. I don't need to put a wager on it because I've been living it quite some time. How is only charging what you have the cash to buy any different than only purchasing what you have the cash for? And then getting cash back on top of it. And I didn't become a statistic just because I carried balances. Again, is this stigma only placed on those that have filed for bankruptcy or is this a universal stigma?

Perhaps I'm giving the population more credit than they deserve... but isn't assuming the worst in everyone and all situations the same as guilty until proven innocent?

[dman]

People keep saying on here they people should not be a slave to their credit score...totally agree. I also believe they should not be a slave to pinching every single penny they possibly can. Now, that's just me...and I know its not popular opinion.

Well, I think it's popular opinion to leave lean at least until you have a decent emergency fund. After that, I say make a budget and as long as you can stick to it, no worries! If you give yourself $50/mo to spend on whatever the heck you want, and you blow it on cappuccinos, so be it! Or maybe you save it up and buy a new iphone every year. Whatever floats your boat. Me...I'd just look for a cappuccino machine in a thrift store AND buy a 6mo old Android phone

Basically...I'm of the mindset that it's better to put your money to work for you, than to work for your money. Think of what you want to do, figure out the best way to go about it, and go for it. Vs the extreme of doing whatever you can to make the most money.

I dunno maybe I'm wrong, but you guys that are "cash only"... how long could you survive without any income whatsoever? What exactly is the breaking point for someone doing everything perfectly in your eyes... I know the economists say you should have enough saved to live without money for like 3 months... but what happens after 3 months or more? At some point, in bad times, everyone needs a bit of assistance.

Well, with one of us drawing unemployment at a tad over $400 a week, we were able to pay all our bills and have some left over each month. We "could" cut expenses even further if we had to; I figure $1,000/mo would have us living lean, but semi-comfortably. If we were poorer than that, some essential bills would be reduced or eliminated (i.e. we'd qualify for free healthcare so there goes one $200/mo bill; probably some kind of assistance with the electric and phone bills, maybe food stamps, etc.). I'd drop DSL, and possibly the entire phone line. Netflix would definitely be out (not very useful without internet). We'd have to keep paying car insurance but we'd take everything off but one vehicle, and drop it down to liability (right now it's a bit under $600 per 6 months for a van with full-coverage, liability on an antique-ish car, and full-coverage on an old RV). Heck, we'd stop paying house insurance if it came down to either that or food on the table.

With no mortgage or auto loans (or ANY loans for that matter), our monthly expenses are pretty low. What would be a three month emergency fund for many, would fund our entire family for over a year. If things got bad, and assuming our retirement accounts didn't take a big hit...I think we have enough now to last us 2-3 years (that's with no unemployment income). If one of us got UI and the other got a minimum wage job...minimum wage would be enough to sustain us, so the UI would just go direct to savings. And this time last year, we were way in the hole...so I imagine in another year or two we'll be even better off.

And I totally agree with Logan ... there is no slippery slope. Its just like living cash only... if you don't have the cash for it...don't charge it. Now, if having the credit card is just too much temptation and you're not disciplined enough to use them wisely, then ya don't use them.

But that's the slope...the temptation to use them...see? In reality, we can truthfully only say that we WERE disciplined enough to not to carry a balance in the past. We may THINK we're disciplined enough to not do so in the future, but until the future happens.... Put another way, how many people who end up with tens of thousands in credit card debt, started off thinking they were disciplined enough to never carry a balance? They were 100% sure that they wouldn't become a statistic. Then they did. So, sure you THINK you're disciplined enough, want to put a wager on it? Wait, no...gambling is yet another slippery slope

[tobee43]

Amy:Ok, BUT...a job loss would be an indirect cause of bankruptcy. Job loss leads to charging up your cards, leads to bankruptcy. If you can lead a cash lifestyle...if you think a bit harder about buying the latest and greatest gadget, about buying the biggest and most convenient house, etc...you'll have some money saved up for such a rainy day (and your monthly costs will be less, so your savings would last even longer). If you don't ever use credit (yes yes, more important is that you don't carry a balance), then think of all the interest payments that you're not making...that can go towards savings, a better house, or a new-ish and still great gadget.

Plus, I think a lot here already had big balances on their cards before a major event (job loss, hours cut, medical bills, etc.) happened. It just made a bad situation worse (or perhaps, it made a manageable situation bad).

you're most likely correct. although, i also think some did get into the mess not from just buy luxury items. (be still my heart, i know there are people out there like that!)

Amy: Just a quick point...if one lives out in the boonies, then the chickens will eat those pesky pests for you. No expensive pesticides needed, plus free eggs!

ROFL!!!! no, chickens don't eat the buggies on the tomatoes...wish they did!! food chain out in the boonies doesn't always work that way. chickens...you really made me laugh, we had them when we were in college and i would feed them veggies and get green eggs. i'm NOT doing that again!!

Amy: BUT...did she seriously consider it? Checked nearby jobs (and if taken to the extreme, see if she could telecommute from her current job, if that would even be an option)? See if there was daycare nearby? See if she could get reduced hours to make up for the extra commute? Crunch all the numbers (money saved due to lower costs of living, minus lost pay due to reduced hours, etc. etc.). If she did, and has decided the best course of action for her is to stay in the city...more power to her! I just see soooo many people stuck in the same place for their whole life...they keep doing the same thing because it's what they've always done, it's all they know, it's "safe."

I think if everyone sat down for one full day and fully evaluated their situation, a lot of people would say "Hrm, so this $100k I've been saving up for a down-payment could BUY a house in {insert location here}? And it'd cost under a thousand a year in property taxes? Wait, I'd save HOW MUCH on my homeowner's insurance? Let's see...only slow DSL and a bit expensive, but HOLY COW THOSE ARE CHEAP ELECTRIC RATES!! Hrm, some cow farms nearby, that could be smelly but OH MY GOSH WHERE'S THE SMOG??!! Hrm, nearest major city is 45 miles away but wait...Google Maps says that it'd only take 50 minutes to drive that far? IT TAKES ME AN HOUR TO DRIVE 15 MILES TO WORK!!! Looks like there may be no cable out there, wonder how much a satellite dish would cost....{couple hours pass} Alright, looks like I better start watching some NASCAR to familiarize myself with the natives' culture.

oh yes, and she does some remote work, but she runs a large agency besides seeing clients in mental health. she is a PhD with her mba, and is really the sole support since her husband for six years as been unable to keep a teaching job for more than a year at time. she has meetings with the state, and such, she must attend, she has to oversee billing, all the clinical side and the business side of this company, so, it's very hands on. he's unfortunately has a double masters and no one wanted to pay him. so then moved to NC where there was teaching openings, she found a job in a second and so did he, prior to their move. so...what happens at the end of the school year???? he gets laid off AGAIN. as it is, she's been going 90 miles one way and leaving at 8 in the morning and getting home at 7. he JUST got another job in the durham area, (she was smart, i wanted her to buy asap when they moved down there last aug, but she said NO, i need to see if his job is stable and...it wasn't). so now her job and his are both in the durham/raleigh nc area. so she KNOWs that's where they want to go. FDA will not finance near the city. and of course, we can't help.. otherwise in the "old" days we would have been able to co sign for her.


ROFL!!!!!!!! you are way to funny!!!! i like cows, but here we have armadillos...can you eat those???

like possum stew??? armadillo stew...

Amy:Oh, and LOL at Tobee knitting everything into hats.... haha

that was when i was attempting to do some "woman" type bonding experiences..LOL!!! didn't work very well for me..

[Logan]

And I totally agree with Logan ... there is no slippery slope. Its just like living cash only... if you don't have the cash for it...don't charge it. Now, if having the credit card is just too much temptation and you're not disciplined enough to use them wisely, then ya don't use them. Like Logan, I have rewards cards... I actually MAKE money on them. My Navy Federal rewards visa gets me lots of cash... like last night... I bought 119 dollars in groceries, put it on the credit card and then when I got home I made a payment on my credit card of 119 dollars. Easy peasy Japanesey... I was going to purchase the groceries regardless of which account it came from... and being that I bank with Navy Federal its so easy to just move the money from one account to another. I typically run about 3,000 to 5,000 dollars a month through this card and the rewards add up. But again, nothing goes through this card that I don't already have the cash to pay for it with. So, there is no slope... I am disciplined enough to only charge things I would normally be buying with cash.

Amy, have you checked out Perkstreet Financial. I used to get 1.25% back for purchases with USAA but now use Perkstreet because I get 2% back. It's a debit card so everyone here should be happy (sarcasm) but you do need 5k in your checking to get the 2% otherwise it's 1% and they have monthly perks that you get 5%. Next month it's at Apple stores and Amusement parks.
logan

[Amy26]

I don't see anything wrong with the arguments presented really but again its how it works for YOU. My choices in my life are not strictly surrounding money. Like where I want to live, who I want to live close to, what kinds of jobs I want, the atmosphere I live in.... I do not pick where I want to live strictly based on how much it costs and I do not pick the job I want strictly based on how much salary I get. Did I evaluate my current living situation properly? Well only I can be the judge of that. And if I didn't like it or it was causing financial problems, then I'd probably take care of it. There is nothing wrong with being in the same place your whole life if you like it there and you get by. And you talk about "safe" like its a bad thing... you're not using credit at all because you think its "safer". I don't personally believe that being responsible with credit means you don't have it. Being responsible with credit would be using it properly.

People keep saying on here they people should not be a slave to their credit score...totally agree. I also believe they should not be a slave to pinching every single penny they possibly can. Now, that's just me...and I know its not popular opinion.

In regard to reasons for filing... tobee is correct that a lot of people didn't get here because of wild and crazy spending. I have also said this before that I got there because of being laid off from a foreign company with no way to get unemployment in the states. I lived, for 12 months, on my cash and paying my bills... yes, I had that much money saved up and a little help from family... but guess what...the savings run out at some point! Whether its 3 months, 6 months or in my case 12 months. I couldn't pay my bills after 12 months with no income. So, only solution was to file. It was not because I couldn't manage my finances or I had outrageous debts... aside from my home that was upside down by 150k... which made BK a no brainer. BK is a tool and I used it. I found a new job shortly after I filed and now life is back to "normal".

I dunno maybe I'm wrong, but you guys that are "cash only"... how long could you survive without any income whatsoever? What exactly is the breaking point for someone doing everything perfectly in your eyes... I know the economists say you should have enough saved to live without money for like 3 months... but what happens after 3 months or more? At some point, in bad times, everyone needs a bit of assistance.

And I totally agree with Logan ... there is no slippery slope. Its just like living cash only... if you don't have the cash for it...don't charge it. Now, if having the credit card is just too much temptation and you're not disciplined enough to use them wisely, then ya don't use them. Like Logan, I have rewards cards... I actually MAKE money on them. My Navy Federal rewards visa gets me lots of cash... like last night... I bought 119 dollars in groceries, put it on the credit card and then when I got home I made a payment on my credit card of 119 dollars. Easy peasy Japanesey... I was going to purchase the groceries regardless of which account it came from... and being that I bank with Navy Federal its so easy to just move the money from one account to another. I typically run about 3,000 to 5,000 dollars a month through this card and the rewards add up. But again, nothing goes through this card that I don't already have the cash to pay for it with. So, there is no slope... I am disciplined enough to only charge things I would normally be buying with cash. Is this strictly frowned upon just because we filed for bankruptcy? Or would non bankruptcy citizens have the same stigma put upon them if they were "using credit to their advantage" as well?

Oh, and LOL at Tobee knitting everything into hats.... haha.

[dman]

i think we need to remember many people who filed bk, even on this forum wasn't because they charged and charged and charged. personally, from what i have read, and i'm just throwing this out there, it seems to me, most people file because of a job loss, mounting medical bills, change in employment agreement ( cutting hours, benefits, etc.) and, as a result of those situations, used their charge cards for necessities. now, i'm not implying that's true with everyone, but it does seem to be a common thread in many discussions of a stories of a job lose, illness etc. and then someone having to use their cards to keep their lights on heat on etc. i really don't recall anyone said, i'm filing because i went to the islands and europe to many times and i needed a new lexus every year.

Ok, BUT...a job loss would be an indirect cause of bankruptcy. Job loss leads to charging up your cards, leads to bankruptcy. If you can lead a cash lifestyle...if you think a bit harder about buying the latest and greatest gadget, about buying the biggest and most convenient house, etc...you'll have some money saved up for such a rainy day (and your monthly costs will be less, so your savings would last even longer). If you don't ever use credit (yes yes, more important is that you don't carry a balance), then think of all the interest payments that you're not making...that can go towards savings, a better house, or a new-ish and still great gadget.

Plus, I think a lot here already had big balances on their cards before a major event (job loss, hours cut, medical bills, etc.) happened. It just made a bad situation worse (or perhaps, it made a manageable situation bad).

as for living in a corn filed with no running water and a big gas stove NOT!!! but downsizing from a 4500 sq foot house, to a 2000 sq foot house, i tried to knit once but everything turned into hats???? i wouldn't waste my time growing a tomato and spending a fortune on pestisides to keep the bugs off of it, when i can go to the store and buy one for 35 cents, nor wash my clothes on a scrub broad!

Just a quick point...if one lives out in the boonies, then the chickens will eat those pesky pests for you. No expensive pesticides needed, plus free eggs!

look i totally understand your postion amy, i just spoke with my daughter last night, attempting to encourage her to go with the FDA mortgage loans and she's saying i can't live in the sticks, which is the only place they will allow them to get a mortage, and she said with my career and hopping the kids from daycare, and gas and this and that. i get it. it's not out of greed, it's also to do with the quality of life, which in the end is the most important thing.

BUT...did she seriously consider it? Checked nearby jobs (and if taken to the extreme, see if she could telecommute from her current job, if that would even be an option)? See if there was daycare nearby? See if she could get reduced hours to make up for the extra commute? Crunch all the numbers (money saved due to lower costs of living, minus lost pay due to reduced hours, etc. etc.). If she did, and has decided the best course of action for her is to stay in the city...more power to her! I just see soooo many people stuck in the same place for their whole life...they keep doing the same thing because it's what they've always done, it's all they know, it's "safe."

I think if everyone sat down for one full day and fully evaluated their situation, a lot of people would say "Hrm, so this $100k I've been saving up for a down-payment could BUY a house in {insert location here}? And it'd cost under a thousand a year in property taxes? Wait, I'd save HOW MUCH on my homeowner's insurance? Let's see...only slow DSL and a bit expensive, but HOLY COW THOSE ARE CHEAP ELECTRIC RATES!! Hrm, some cow farms nearby, that could be smelly but OH MY GOSH WHERE'S THE SMOG??!! Hrm, nearest major city is 45 miles away but wait...Google Maps says that it'd only take 50 minutes to drive that far? IT TAKES ME AN HOUR TO DRIVE 15 MILES TO WORK!!! Looks like there may be no cable out there, wonder how much a satellite dish would cost....{couple hours pass} Alright, looks like I better start watching some NASCAR to familiarize myself with the natives' culture."

[dman]

No dman, obviously you cannot handle credit because you say "you will NEVER carry a balance. But then one month you do,.................". There are some of us who will NEVER carry a balance and we use our credit cards. There is no slippery slope for me and most likely for Amy. That's what many of you don't get.

If you EVER carried a balance, then I'd consider it a slippery slope. If you NEVER did, even before a bankruptcy, then it's still a slope...but perhaps not quite as slippery. I think the fact that I'm leery of having even a single card, means I HAVE become more responsible with credit. If I do get one, hopefully I'll be so scared of using it that I'll only do so when it's actual useful (i.e. renting a car).

And dman, I just got a target card a couple of weeks ago because when you use it at Target you get 5% off instantly. That card will SAVE me money yet I've been criticized on this board for using cards like this. I find that unbelievable that people actually criticize some of us for SAVING money because THEY cannot handle THEIR credit.
Logan

I guess you do the vast majority of your Target spending online and/or don't have a checking account? For someone like me who has never spent a dime at Target.com and has a checking account, the Target Debit Card gives me the exact same benefits.

[tobee43]

Maybe, maybe not. I may not be paranoid and put my real state in my profile...or I may have been so paranoid that I picked a state at random. Or maybe I'm SO paranoid I picked my real state, since everyone knows I'm too paranoid to do that

bk has a tendency to do that. i think it took about two years before we felt someone wasn't watching our every move! LOL!! after a while though, it does start to go away.


back to the topic at hand.

i think we need to remember many people who filed bk, even on this forum wasn't because they charged and charged and charged. personally, from what i have read, and i'm just throwing this out there, it seems to me, most people file because of a job loss, mounting medical bills, change in employment agreement ( cutting hours, benefits, etc.) and, as a result of those situations, used their charge cards for necessities. now, i'm not implying that's true with everyone, but it does seem to be a common thread in many discussions of a stories of a job lose, illness etc. and then someone having to use their cards to keep their lights on heat on etc. i really don't recall anyone said, i'm filing because i went to the islands and europe to many times and i needed a new lexus every year.

i have to be honest and say, i only got my credit scores once in the past almost 3 plus years. again, really because it's where we are in our lifetime. i don't think having a credit card is evil or a bad thing, i think the banksters are, and HATE to have them have any of my money if i fall into a situation that i would have to pay interest.

as for living in a corn filed with no running water and a big gas stove NOT!!! but downsizing from a 4500 sq foot house, to a 2000 sq foot house, i tried to knit once but everything turned into hats???? i wouldn't waste my time growing a tomato and spending a fortune on pestisides to keep the bugs off of it, when i can go to the store and buy one for 35 cents, nor wash my clothes on a scrub broad!

i agree with dman in the respect that one should not be a slave to a credit score! it will drive even the saniest of persons crazy.

i also have to be honest and many of you know, we purchased a house after bk, but did it my owner financing at 100%, slipping right past those darn banks and the credit nightmare, and..nope, it's not a 20k house, but it is what we can afford and not have to worry about where our next dime is coming from. no the house is not in the middle of no where it was the "last of the housing boom" area in this location, unfinished newer homes never selling, so plenty inventory available... it's just 20 miles from everywhere that one would need to go . however, compared to NYC area...it's very different, but now we are finally saving money. we have a lovely home, with a beautiful pool area, it's just not where we would have chosen IF we had the choice. so, i 'm not saying everyone has to move to a corn field to be successful in rebuilding their credit or future.

look i totally understand your postion amy, i just spoke with my daughter last night, attempting to encourage her to go with the FDA mortgage loans and she's saying i can't live in the sticks, which is the only place they will allow them to get a mortage, and she said with my career and hopping the kids from daycare, and gas and this and that. i get it. it's not out of greed, it's also to do with the quality of life, which in the end is the most important thing.