My big, fat, unpaid credit card bill

[bakofoil 27]

Saw the title and was going to offer to lend you a tenner.

[isleta521 5]

Saw the title and was going to offer to lend you a tenner.

Do you charge interest?

[Imua 0]

I filed for bankruptcy in '01 and will admit that part of what I owed was credit card debt incurred when I moved to NYC and was settling in. After my debts were discharged I lived strictly on a cash-only basis for 5 YEARS. Thank God for my debit card so I could still shop online and stay within my means. I didn't want to get into the same trap again. The problem is you need a decent credit score for really basic things like renting an apartment or getting certain jobs. I don't drive so had no need for a car loan, no way in he!! can afford a house so a mortgage is out of the question, the only way I can build my credit is by doing the same thing that got me into trouble in the first place. That's not a good system if you ask me. I avoided the first credit card offers after bankruptcy because they had all these crazy fees attached to them, astronomical APRs, etc. I didn't receive an unsecured, no-annual-fee, APR-below-20% offer until 5 years after my debts were discharged. I have since read that my waiting may have hurt my credit score which is very low. I am afraid to look for an apartment and hope my credit score will go up between now and the time my husband and I are ready to go apartment-hunting - given the slowness of USCIS now that should be over a year from now. I now have three credit cards which I pay off every month - my total credit line is less than a month's take-home pay so I can't get into too much trouble. The only debt I have is a loan from a friend which I will pay off with part of my tax refund.

[ELW 5]

Never had credit card debt because I always spend within my means, and pay off balances in full every WEEK. However reading Oprah's debt diet inspired me to cut corners further and start putting 10% in savings away every month. Saving up to have that suggested 8 month salary stash in case of emergency.