Credit Card Debt

I talk to more and more people whose credit card companies are jacking their interest way up. One of my colleagues just told me that her interest is being raised on a card she has never paid late. Her credit card company is likely responding to her credit rating, which isn't that great; yet, supposedly that was supposed to no longer happen. She got the letter that says if you stop using your card they won't raise the rate. I told her not to depend on calling but to send them a letter and keep a copy.

I hardly ever use my credit card, and haven't done so for a month now. I seriously considered using it, stupidly, to make a payment that would've made my cash flow a bit tight until the next payday. I ended up not doing it, because that's how you get into trouble.

The key is to change your mindset and not fall into the trap of "needing" things. My colleague says that she has started using her debit card for everything and either she has money or she doesn't. Good philosopy. I still write checks for certain things, as I do business with some entities that don't take plastic. Which is fine. I have a box of checks that needs to get used up and that's going to take a long time.