10 Reasons I'm Cancelling My Credit Cards

[tobee43]

It could be a Florida thing. I use my prepaid master card at several BP, Exxon, Sunoco, Sheets, Sams Club locations here in Maryland,"sams club puts a block of $50". I've never tried 7-11 yet, but now I am curious to see what will happen. Prepaid transactions could be different here in Maryland then Florida.

it could be, just a florida thing. it's odd, we don't any exxon, sunoco i think we have one citco, but it's usually so expensive, we never use it.


yes, i agree they could be different in florida as opposed to maryland.

[jjim120]

I use the Walmart prepaid debit card for all my internet purchases. Don't like the idea of having my debit card number out there. However, it does cost $3 to load. It also works here in Missouri at gas pumps (most of the time).

[username123]

Thanks for posting. However, if you pay off your credit cards each month and have an awesome rewards program (I have Discover and LOVE it, even though it has a ridiculously high APR) then credit cards are great. Thoughts?

[Goteki45]

Thanks for posting. However, if you pay off your credit cards each month and have an awesome rewards program (I have Discover and LOVE it, even though it has a ridiculously high APR) then credit cards are great. Thoughts?

It makes NO SENSE. Look at how much you have to spend on your credit card just to accumulate the points in order to get anything of true value from the "awards program". You are basically paying for that rewards several times over then if you just would have saved up the cash to buy it in the first place. As I said in a previous thread. I went on a cruise back in may. My interior cabin price was $825. If I would have had a Royal Caribbean credit card and charged $825 worth of stuff, I wouldn't have had THE POINTS needed to buy my ticket. I would have had to charge about $2000 or more in order to have eventually accumulated the points to buy that $825 interior cabin ticket. Free lunches have strings attached.

[keepsmiling]

Nullum Gratuitum Prandium.
My absolute favorite Ray Troll t-shirt

[andy158]

Been shopping online since filing bk13 two years ago using Paypal and MoneyPak. You have to have the cash in the account in order to use it. MoneyPak is a prepaid card you can get just about anywhere and most online vendors accept it.

I do all of our auto, home and appliance repairs and can find great deals online. Bk13 has not stopped us from using online shopping methods. We just don't get a cc bill at the end of the month and don't have to worry about id theft.

[AngelinaCat]

I just found and posted the same article, then I found your post. I apologize. But I hope this article will help people realize they must start going 'cash only', and get OFF the plastic teat.

[keepsmiling]

Need financial advice?

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Thanks.

11 posts, all the same.
Mods??? SPAM alert.

[DYLAN150]

It's very easy to charge something you really don't need. Vacations, casino's. eating out, etc. I would even charge down payments on cars. Heck, I charged a truck once on my visa. Now I pay cash for everything. A wake up call is when you pay your phone/internet/cable bill cash of $210 per month.

[oregonpilot]

It's very easy to charge something you really don't need. Vacations, casino's. eating out, etc. I would even charge down payments on cars. Heck, I charged a truck once on my visa. Now I pay cash for everything. A wake up call is when you pay your phone/internet/cable bill cash of $210 per month.

UMMM "vacations,casinos, eating out...IsThat ALL????? LOLOL
My ex-hubby many yrs ago...had sold our home and started building the new one (our dream home) with what we got out of the old one. Didn't go any where near as far as we thought it was going to get us. Got the trusses up and money was gone. Couldn't get a mortgage on a partially completed home!
Used cc's to finish building it. Think we had over 100k on those cards.
When my new hubby was helping me get my tools out of that garage he looks up at the house and says ...I can't give you this!!!
Told him...i don't want it...it's just not worth it.

[bcohen]

The top 10 reasons I canceled my credit cards:
1) They were maxed out anyways.
2) I couldn't afford the payments anymore.
3) I suffered a job loss, which really exacerbated #1 and 2.
4) The banks got bailed out, so they shouldn't feel too much "pain" from writing off my debts.
5) My credit rating was in the toilet anyways due to unpaid medical bills, a defaulted cellphone account, and other bad debts.
6) I decided to go to college, so I won't be working again (except for summer jobs) until 2014 at the earliest.
7) I haven't made a payment on any of my unsecured debts since March of 2009.
8) I have discovered that most of the stuff that I bought on credit, I didn't really NEED because now that I can't afford it, I don't miss it.
9) I don't plan on buying a house, car, or anything else in the near future where I will need to have good credit in order to obtain financing.
10) If necessary, there's always the Chapter 7 "escape hatch" to slay these debts dead for good!

[tradinglife]

Thanks for posting. However, if you pay off your credit cards each month and have an awesome rewards program (I have Discover and LOVE it, even though it has a ridiculously high APR) then credit cards are great. Thoughts?

Just be late a couple of times and see how many points you get to keep...No thanks! I will NEVER forget the collection calls and the harrassment from the "nice" credit card collectors when we got in over our head and eventually filed chapter 7. Never again will I be bondage the those folks. Paying cash now and it's amazing to look back now and see how much money i wasted chasing credit card points...what a scam! My post cannot express my hatred of credit card companies and their tactics......