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Credit card woes

May 15th, 2007 at 04:10 pm

Our credit credit debt has skyrocketed to $5,513.89... over $1,000 more than last month and more than we've ever had in credit card debt our whole short lives.

On a side note, we recieved a notice in the mail yesterday from our credit card company stating that our fabuously low apr of 7.99% would now be 17.5%...

Yikes! So I called and was told it was because they had checked my credit report and found that there were "too many accounts not being paid as agreed" I proceeded to tell the customer service rep that I have never made a late payment in my life and then immediatly wondered if there was some sort of fraud so got off the phone and checked.

My credit was great, same as ussual and my credit score "exellent"...then I got MAD. About a year ago I added my husband onto my card as a joint cardholder, his credit has been less than perfect in the past (2 cards that he missed 2 payments on approximatly 1 year ago) but I was assured when changing to the joint account that my apr wouldn't change based on adding him, and they said they would have to pull his credit report and check before they would add him. It's still not resolved, I need to call back later on when the office is open....grrrr

5 Responses to “Credit card woes”

  1. Aleta Says:

    That's why it is a good idea to each have your own credit cards. Ask them if you can just have your name on the card and would it make a difference. If they don't offer you any solution look for another card and transfer the balance but only put it in your name for now. That may work.

  2. disneysteve Says:

    "Our credit credit debt has skyrocketed to $5,513.89... over $1,000 more than last month"

    Why? The only way to get out of debt is to stop living beyond your means. You mentioned before that you don't have a budget. You need to record all of your spending for the next month. Then sit down and split all the spending into Wants and Needs. Then you need to compare those totals to your income and if spending exceeds income, start cutting down the things in the Wants column until you are spending less than you earn. Also, re-evaluate the Needs too because there may be things on that list that you can get cheaper, like insurance, medication, utilities, etc. If you post your spending to the boards, I'm sure lots of people would be happy to help you work through it.

  3. homebody Says:

    Uh oh, what happened that you had to spend $1000.00?

  4. Aleta Says:

    As Steve mentioned a budget is a must-have. I would highly reccommend the book ALL YOUR WORTH. Elizabeth Warren lists needs, wants, and spending. It is an easy read and may help you. It inspired me to rethink my budget which I thought was doing it's job, but wasn't. I agree with the above poster as to why your credit card went over $1,000.

  5. armyamy Says:

    Thanks for all the comments and I'm definately going to check out that book! I know we should have a budget...it's just so hard to sometimes! But I'm going to try to make it happen! Smile

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