Tuesday, November 07, 2006

Credit card debt

True 'DatHere is why Americans are in debt.  I decided to take the plunge and get a Shell MasterCard.  Yes, the ads did me in, saving 10 cents minimum per gallon of gas, and with Shell being consistently cheaper than most places near me (including Costco) got me to take the plunge.

Before you go making any comments, yes, I am able to pay it off before we even get the bill.

In any case, I'm waiting for the cards, wondering if I was even approved.  Then they show up and those fools have given me a $12,000 limit.

Seriously, anyone who knows me knows that I'm sure not rich.  What would possess a company to offer so much money to any individual whose only knowledge of a person is their mortgage, credit rating and annual salary?

I can see so many people get into serious trouble this way.  Right now I'm helping others get out of some deep debt, and I was wondering how it was even possible.  Now I know. 

It doesn't take much to decide that the $100 could be paid off this month, but may as well wait until next month...

I think it's time to call and lower that limit a bit.


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