No. of Recommendations: 1
<<Secondly, I have to say it sounds as though you are a sucker for the packaging credit card companies use to get people to apply for and use their cards. To me, these come ons have absolutely no appeal, and are only there to trap and influence the unwary.

This is probably true to some extent. I'm sure the gimmicks had a greater power over me before I really understood what I was getting myself into. But like I said before, I now pay off my AMEX Gold card in full each month, and don't even really use the AMEX Blue any more. The Amazon Visa I signed up with because of the 0% BTs, the Amazon rewards were just a bonus. But the Amazon card should be paid off soon. So I'd like to think more along the lines of "I was a sucker, but I've changed my evil ways." ;)

Perhaps "sucker was too strong of a word. But they don't offer those deals to appeal to the rational side of the brain, I don't think. And it does sound like you are figuring out better ways to manage your financial life ---congratulations.

<<So personally, I'd close most of these cards and keep only the minimum cards you really need to make your life work efficiently. And F the credit score ---if you were to lose a few points for a few months who cares? Lusting after a high credit score and letting credit scores run and manipulate your life isn't my idea of freedom.

I don't know if I'm exactly lusting after a higher credit score, but since I'll be moving to a new location (probably renting) and landlords have a tendency to do credit checks, I didn't want to adversely affect my credit score. I guess I can just wait until I'm in my new place to cancel the cards. It's funny how things dawn on you only after you talk about it out loud... or on a board or where ever.

That sounds like an excellent plan. You have to forgive my colorful language, sometimes---.

<<I'm glad to hear that life is treating you well, and that you realize it. But that's not really the time to be breaking even financially, you should be developing an effective plan to maximize your savings and to acquire meaningful investments for the future, in my view. The good times you describe may or may not last forever, and good times are the opportunity to acquire the savings that can set you up for life.

Actually I am building up a savings. I'm contributing to my company's 401k, and the money I've earned off that so far more than offsets any money given to finance charges (at the rate of something like $5-7/month) since opening the 401k. My savings account is at the highest it's been in a long while, and every other week it continues its upward climb before I distribute money anywhere else.

And trust me, with the current work environment being the way it is, I'm well aware that the good times don't necessarily last. But I'm continuing to make myself more and more valueable to the company which will hopefully make it harder for them to let me go.

Thanks for all the advice SP.

Congratulations, you sound like one of the winners who will make their assets serve their needs and interests, rather than being among the victims of their own poor judgement.

It sounds like you are putting yourself a track that will lead to good odds of leading a secure and succesful financial life.

Seattle Pioneer

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