I cut up my CC!

[kimmom]

So I cut up my Credit Card.. I wish it was paid off but I paid it off with our line of credit which is 11.5% cheaper in interest.. So I hope I made a good move! The balance on my card was $1000 but with the very high interest rate on it I was always inly paying interest each month! We are putting our Jetta up for sale today so we can pay off the financing on it. Then will most likely sell the van too and buy a vehicle outright so we can be without so many car payments! We are spending $800 a month on 2 car payments and one cars insurance!! Anyone else without a credit card ever find it hard to order , reserve things etc?? We still have our creditline.. I so badly want to be out of debt!!!

[mtm]

sounds like you are off to a good start! Getting rid of the car payments will help a lot.

[katheek77]

I don't have a credit card - we just use our bank account's Visa debit/check card to make reservations and what not.

HTH

[kmeyrick]

Originally Posted by katheek77

I don't have a credit card - we just use our bank account's Visa debit/check card to make reservations and what not.

HTH

I just got two credit cards and I am so scared of them. I have decided one will be for gas only.

The reason I did it is because I have no credit history. So I can't get loans and stuff.

How do you do it?

[katheek77]

Are you asking how I do life w/o credit cards?

We just do it. We used to have credit cards - it's just not worth it to us - just antoher thing to worry about. We've had loans, we pay our bills on time, we both have good credit. We almost bought a house a few years back (and then DH got orders somewhere else), and we had very good credit then.

For us, we try to just buy things outright. Right now we have a significant amount in the bank (six months living expenses right now), and we add to it monthly, so, in an "emergency", we'd use that. We did have a loan when DH got his jeep in 2006, but we put half down and paid the rest off in six months. My "new" (I put it in quotes, b/c it will be used) car will be bought outright (or we will get a small loan, just to keep the credit history active)when it comes time for that.

FTR, I don't think credit cards are evil. I think that used responsibly, they're good choices for some people (ie..building credit history, getting points/miles, etc.). For us, we really have no need for them. We get points back for our free bank card, we don't travel often enough to justify the fees on a miles back card, we have good credit, and we have emergency savings.