So you do most of your purchasing by card, Reyn, rather than using cash?
Yes, I use our one credit card (Visa, no fee) 99% of the time, if credit card is available. For me, it's a matter of convenience, not having to run to the bank to get cash all the time. I don't like having too much cash at home. In the 30+ years that I've had the card, I've only not paid it off every month, one or two times, and then paid it off after a couple of months, and that was when I first had it.
I rarely use a debit card, as I'm wary about it. There's a lot of scams going around lately with the use of them. Stuff like criminal stealing the scimmed info from a store's card reader. Scary stuff.
At least with a credit card, your liability is limited, if at all, depending on the situation.
But a $300 debt looks so much nicer to me than the $400 debt of yesterday!
Every bit helps.
I know our oldest daughter has racked up a fair bit of debt on her card. I worry about it. The interest rates are really highway robbery.
I don't even have a debit card.
I totally don't understand the need for one. In fact to me it's just one more thing to worry about.
Oh, I know, I know....you don't have to carry cash, you can't spend more than you have in your account, it's a way to track your expenses.
Well, I do all that with my credit card, and earn the points.
Is it that common for people to have so little self control?
I really don't get it. Like, does a person go into a fugue or something that they don't realize they are picking out, paying for, bringing home (or having delivered) merchandise? Do you walk in the front door and suddenly realize you're holding a bag with stuff you bought? Do you not realize you're allowed to return the items, if you suddenly become conscious and see you've purchased stuff you don't need or can't afford?
I know this sounds bitchy. I do understand there are circumstances that lead to debt. That's not my point.
msolga, you should be very happy you've got your debt down to $300. Make the commitment to use your credit wisely in the future. Take advantage of rewards, visualize you are pulling cash out of your wallet when buying something, but don't stop using it.