Just A Way of Life

Is having credit cards, just a way of life?  It seems to be that way nowadays.  Of course, since I filed for bankruptcy a year ago, I haven't had any.  Cash on the barrel head, so to speak.  Actually it has been a huge relief for me.  I am back to my old way of life by saving for whatever I wanted.

"Wanted"--that is the operative word here.  NEEDED?  Quite something else.  There comes emergencies.  Car repairs.  Dental bills.  Doctor bills.  Luckily, I have been able to pay my medical and dental bills by sending them $50.00 a month and they were happy with that.  Car repairs?  Couldn't do it.  The particular service garage I use does not offer a time payment system.  Credit card or check.

About six months ago I received a credit card offer--to rebuild my credit (which two years ago was at a FICO of 800).  Of course, with that kind of card, there is an annual fee and a huge interest rate of 22.99%.  My credit limit was $500.00.  I was accepted and used it for my first of 5 car repairs--much needed front brakes.  I would be granted a higher credit limit if I paid the minimum payment and on time.

From knowledge I got somewhere from someone--Suze Orman maybe?--it is better to make a bit higher amount than the minimum payment, earlier than the payment date.

Which I did.  The minimum payment was $35.00.  I paid $50.00 each month.  In the charges each month were the annual fee, divided by 12 and that damn high interest rate.  BUT my credit limit has now been raised to $1,500.00.

Yesterday, I received a Capitol One offer for a card with a $3,000.00 credit limit, NO annual fee, NO APR on purchases for a year.

AHA!

From knowledge I got somewhere from someone, I will do a credit card transfer and use the new card to pay off the older card and pay it off, on the new before the APR kicks in.

Then that credit car will remain in my top desk drawer.  Not to be used for anything, except an emergency.

BUT with knowledge I got somewhere from someone--never let the card be paid off entirely.  To build up my credit rating, When it gets near zero, I need to use it.  Like put $100.00 charge on it and make a payment on it every month.  Consistency in paying is the key to all of this.

I am saving monthly with cash in my Car Repairs envelope.  I figure by March,  I will be able to get BOTH #4 and 5 on the repair list done.  $1,200.00. Cash on the barrel head.

It will take years and years to get my interest rate lowered, but my FICO score is going up, near 700 now.  It was at 600, after my bankruptcy.  

I know it may sound weird, but to me, it feels good to have a card, "in case" and barring any unforeseen  "NEEDS", like a funeral, or a new roof, or a car transmission, that got me in trouble three years ago, I should be fine.  

Security.  That's all this old person really needs and with my new found part-time job and an "in case" credit card, I FEEL IT!!!!

It's been a long hard road these last, nearly, four years!

I want to thank all of you who helped me.  You fed me.  You clothed me.  You sent me stamps.  You sent me checks.  

Sounds like something Jesus said to do.  They all came in the nick of time, so to speak.  Took away some of my pride, but filled my heart with love.

I pray God continually blesses all of you for your generosity to me and now, I can pay it forward!

A $20 here, a $10 there, a ball or two of yarn to make a pair of slippers for a friend or strangers need. A few bucks in the Red Kettle.  I haven't been able to do that for the last few years.
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My sister called me on her way home from her colonoscopy.  Everything is fine--a bit of scar tissue from her cesarean 39 years ago and one teeny diverticulitis pocket, that the pain is coming from.  The minute she did the "prep" all the pain went away.

So glad she is fine.  I knew she would be, but it was so thoughtful of her to call me right away.