Moneyes wrote: There are so many directions that road can turn, isn't there Frank?

The more financial education one has, the better they can navigate this road.

And if you don't mind my saying, this site is a great road map.

Yes there is. education is the absolute key and wish more people took that seriously.

Great thread with many thoughts and considerations!

There are so many directions that road can turn, isn't there Frank?

The more financial education one has, the better they can navigate this road.

And if you don't mind my saying, this site is a great road map.

It is, but if you obtain a great credit score, while not utilizing the "$5,000 loan", it gives you better financing options overall and can help you gain more financial freedom.

Eventually people realize that a great credit score gained by revolving credit lines will never give them financial freedom. Financial freedom comes by way of not owing anything to anyone because they "loaned" you money. Which is basically what a credit card with a $5,000 credit limit is: A $5,000 loan.

Credit is now a convenience that no one wants to give up. It just needs to be managed more effectively. Even the pleasurable things in life you need credit.

I totally agree. Having credit cards calls for great responsibility and self discipline.

As a matter of fact, where is Kiejon?:

Kiejon, thank you for all of your good advice!

Kiejon always has great posts

I am feeling everyone' story here about credit. I have 2 cards and that is enough for me and yes I charged up quite a bit and am now paying it off. They are not the greatest cards but I have no desire to apply for new cards not for a good while. The economy is in bad shape so I am making due with what I have and you know what I feel great about it.

Kiejon, thank you for all of your good advice!

I feel your story! The same thing happened to me at Marshall's. I went to take something back to The Avenue the other day and I stopped in Marshall's to see what they had going on, well I saw they had some more of the short Rock-aware and Baby Phat jackets there so I picked up one. The lady said, "Where are the kids tonight?" I was like hugh! : Did not realize that I be there so much or she just remembered me from fussing at my kids from entrance to exit.

I was telling here that I had no business being in here because I know my debit card was nearly in the slaughter house and then she turned around and asked me to just apply for the card, it will take no time. I looked up at her with a Charles Manson attitude, punched my pin number in, and got on. To be honest, it was not tempting at all. It is just another point to my story. If I am going to shop at that store as much, then that is the card that I am suppose to have. It is just that I am tired of cards now. The thrill is gone!

Ditto Meya. After I saw how Citibank treats their good customers, I changed my attitude entirely regarding creditors. I am in total payoff mode. I want them to need me and not they other way around. It is going to take some time, but I have patience and am determined. However, I must say, that I was tempted when I was in Victoria Secret's the other day purchasing some lotions and body sprays. I asked the cashier to throw in one of the current catalogs that was being so lovely displayed on the counter. She said, for 2 bucks, I said since when, I used to get them all of the time. She asked if I had an Angel's card, I said I used to. She said that's why. I just hurried up and got out of there.

Thanks for letting me know that I am not going crazy bro. I am just tired of these cards. I have learned my lesson with credit, and what I really have learned is that, everyone uses credit differently. Some do not go pass 30% util and some do. What makes all the difference in the world is a plan to pay it off or bring the util to a decent amount if you do not plan on using it for a while.

I too jumped on the cc bandwagon because I heard how easy they were for an approval, but now that I am sitting here thinking about these cards, I feel like if I have to keep a card active, then I might as well keep a card active that keeps me happy. Take Macy's and Jcpenny's for example, I am constantly owing and paying down balances back and forth. I do not let those cards go to a zero balance and then wait 4 to 6 months to shop there again by force. It's like, if I charge $300, they are going to get $250 back or maybe $150. By the time I get the other $150 in, I had went back and charged another $50 bucks, now my balance is $50. See what I mean?

I have no problem paying for a card that way because we are both satisfying each other and we have built a close business-2-customer relationship. I get what I want when I ask for it, and they get what they want when they do or don't request it. That is what type of relationship I want on all of my cards, if I can't have it, then I don't need it.

Meya, I agree with you. I used to fill out applications and apply for any card that I heard good things about or I was interested in. Now, I have slowed down and haven't applied for new credit because I realized that I have all the cards I need and I'm set for another 5 years. I have to let my accounts age and work on my scores if I wanted to get approved for good rates when I apply for loans in the future. New accounts and inquiries aren't going to help me achieve that, just hold me back.

We better keep our mouth glued KellBell, they probably got an account here and we just don't know it. They are probably using names like wonder-woman09, or creditqueen, just to throw us off:laugh:

Hey but you know one thing I noticed? What purpose is it serving me to spend over $200 per year just to keep a card open? I look it at two ways,

1. Just use the credit card instead of cash for what you are about to spend and then turn around and pay it off
2. When they make no profit from you, they don't want to increase you with a decent limit, or it may put you on the decrease list

Am I making any since? I just feel this way. I am starting to feel like, if I am not using the card, or if I am not happy with the card, why keep it? I don't want to sound to credit mature here, but I think my rebuilding process has passed over. If I am going to have a card, why not have a card that I like or have some type of rewards? These fake rewards that is on my card is straight messy. I don't want to redeem for t-shirts that represents a skinny half naked stripper. I can't redeem from Travelocity because I DON'T HAVE BUT A $500 LIMIT! The other cards try to sucker you into a car rental, hotels, or traveling discounts but the membership fee is over $200 per year and the savings is probably $15 on a $200 room. THE ECONOMY IS SHOT, SO WHERE AM I GOING? NOWHERE!

Let me take a break!