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
Credit card woes
May 15th, 2007 at 05:10 pm
May 15th, 2007 at 05:32 pm 1179246746
May 15th, 2007 at 06:07 pm 1179248833
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.
May 15th, 2007 at 11:24 pm 1179267846
May 16th, 2007 at 04:39 pm 1179329984
May 17th, 2007 at 12:41 am 1179358883