I’m trying and failing, miserably.
I had two credit-cards at one point, one $500 dollar limit card and one card that has varied from a $2000 to a $10,000 limit. I closed the $500 card a long time ago, I think it was 2007? The other card I’ve never managed to max out, good thing, and the limit now sits at $2000 and the balance at ZERO. It’s been a few months now since I’ve carried a balance and I’m starting to feel a wee bit uncomfortable about it. I use it too often, I still use it for everything so I can get the air-miles. I shop for groceries, pay my gas, vehicle repairs, utility bills, phone bills. Almost every bill and expense I have is paid with that card. Today I was going to pop in to Tim Horton’s to grab a coffee and a muffin until I remembered that I locked my card away in my safe and I didn’t have cash OR debit. Ugh.
The thing is though, even though I don’t carry a balance I still paid $1.94 in interest on the stupid card last month, because I took a cash advance at some point and left it for a few days. Now that I’m finally catching up and moving past the paycheque to paycheque living I don’t really need it any more. I keep it in my wallet now and say ‘it’s for emergencies and for when I travel, and buying stuff online’ but really… who am I kidding? I use it for everything, the only difference is that I don’t rack up the balance anymore. Who am I to think I can outsmart the credit-card company? They make billions upon billions for a reason and let’s face it… I’m goal-oriented but I fail. I am human and I am flawed. *sigh*
So… maybe it’s time to say good-bye or at least tuck it away in the safe for a few weeks and start kicking the habit. I am not going to be closing the account because it is the oldest account on my credit report and until I become completely debt-free (and buy my next house) I do still need a good credit-score.
I know of myself that I spend more, way way more, when using a credit-card because I like to give myself rewards for accomplishments. No cash? Oh I’ll use the credit-card. (Like today) I recognize that for myself this is only going to lead to further disaster… I’ve done it before!
Such a difficult decision! Am I the only that struggles like this to say good-bye to a stupid piece of plastic? Help! I could really use your input on this one… what do you think I should do? I locked it away for now and I’m going to see how that goes… but I really am torn about just cutting it up all together and leaving the account open, or just keeping it active but locked up. Hmmm.