bye bye credit cards......

B

BONDGIRL

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Hey all, one good thing about me leaving on "voluntary" redundancy soon is I can now clear my credit cards that are strangling me! I foolishy spend a LOT on them over the last few yrs, when I suffered a terrible loss in my family...... so bye bye credit cards, hello to the dole Queue!
 
Bondgirl, I love your positive attitude and that you appreciate the freedom this situation brings you. It's going to be hard to resist the call of the credit card in the future, so stay strong.
 
Well done Bondgirl, that must be a load off. I'm working on clearing mine too. It's not too much but it's enough every month that would be better spent elsewhere.
 
I have had a CC running for approx 15yrs, and in some cases 2 at a time.

I never had any major debt on them, perhaps £1800 stg at its peak.

I often availed of those 0% offers and thought that I would have it cleared by the time my 0% period was up - but never did, until recently.

I had about £1200 on my BoI card, and took out another 0% deal with Virgin Money, switching the debt over.

About 6 months ago I finally cleared by CC debt, and there is now ZERO on both cards. It does feel good to be honest, after having CC debt for so long.

I have recently cancelled one of the cards, and will keep the other for emergencies only. And I'm sticking to that this time !!!
 
Thanks all,
Well I owe about.... 7000 euro.... 3 CARDS! DISGRACEFUL. I know.... A lot of this debt was to try buy me some happiness when I was going through a breavement... it might of bought a few mths that was it..
I am clearing them all and cancelling them all.
My Dad said I can use one of his if I ever need to book stuff etc.. You think I would have more cop on, but well at least now I did!
 
Sounds to me like it is lesson well-learnt! Best of luck in your next endeavour and remember a credit card balance that is cleared every month is rather cheap!
 
Thats all, big time lesson. We all live and learn, thats the main thing. Lets hope I can get a new job in a few months and be able to start spending normally! They are an awful debt trap they really are...
 
Had a credit card about 40 years ago; overspent and took a fair time to pay it off.
Cut it up and have never had one since. I now only have debit cards on my two main accounts and cash cards on the others.

A valuable lesson for me as I have had no debts whatsoever for over 30 years.
 
BillK said:
Had a credit card about 40 years ago; overspent and took a fair time to pay it off.
Cut it up and have never had one since. I now only have debit cards on my two main accounts and cash cards on the others.

A valuable lesson for me as I have had no debts whatsoever for over 30 years.
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thats great to hear Bill, thanks for sharing. going forward I will have a car loan (car worth a lot more then loan) and Mortgage. Nothing else. I am delighted with myself. although I wont have a job for a while, I will be looking forward to the challenge of finding one and hope that my experience and hard working will have paid off over the last few yrs! there are so many worse off them me, so I am thankful for the position I am in.
 
It's a good idea to have one credit card for emergencies, e.g. in case you are travelling and something goes wrong with your flights. Or your lazer/debit card does not work. Belts and braces I used to call it. I had a lot of problems with my Ulster bank card, if one cheque was being paid in and another being paid out the account would lock and refuse to pay me at the ATM. You also cannot hire a car without a credit card, UK transaction will not take laser card, there must be other instances also. It just needs discipline to keep it for these things and run up a debt.
 
I should have pointed out that I live in the UK and that the LLoydsTSB debit card on my main account is accepted for any transaction anywhere I've been in the world.
 
Congratulations, BONDGIRL and good luck with the new regime.
I have had a credit card since 1987 and got it then just to have extra security when abroad but at that time had a small income and a lot of commitments so rarely used it.
However , I use it thus. In my lifetime , I have rarely come across opportunities to annoy the banks but by using it for genuine sale things that I know I'll be able to pay the bill for in 3 to 5 wks when it's due and thus paying no interest on what is in effect a loan, I feel I am benefiting and not the banks. I've only incurred 10 Euros interest in twenty years, I forgot about the bill and for the convenience of having a card and an opportunity to have 3to5 wks credit interest free, the card is worth it.
So if you ever have one when your income increases, think like that!
 
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