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I have been in that situation and it is no
fun. The credit flowed so easily for so long that it was easy
to ask for (and get) a credit limit increase so long as the
minimum payments were made, life was good. I could buy what I
wanted and didn't have to worry about paying for it because
the minimum payment was only increased slightly. I would use
that credit card for things that should not have been paid for
by a credit card: snacks, a meal, grocery shopping...the list
goes on and on.
SOUND
FAMILIAR?
Then there were times when my heart sank when I couldn't use
my credit card to buy some gas for my car. I was in a panic.
"Did I forget to make a payment?" Dang! Sure I had other
cards, but they were getting maxed out too. The only way I
could make one of my minimum payments was to use one of the
"free" checks that came with one of the statements. I was in a
total state of panic. |