CC minimums going up!

Avatar for gidgetgirl
iVillage Member
Registered: 03-26-2003
CC minimums going up!
11
Tue, 04-26-2005 - 11:11am

I saw this article on my Instant messanger News this morning and thought I should spread the word. Right now, we are paying 0% on a Citicard where the minimum is 2%, but 4% would be a real stretch for us.

One more good reason to chip away at debt and snowflake away!!!

Tough Love for Debtors
Credit-card rules that raise minimum monthly payments could hurt banks and debt-burdened consumers alike
http://pf.channel.aol.com/bw/credit/canvas3?id=20050425150109990001

Gidget

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Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Tue, 04-26-2005 - 12:08pm

Gidget - thank you so much for posting that article!

All my best,
Danni

Avatar for mymartes
iVillage Member
Registered: 03-26-2003
Tue, 04-26-2005 - 3:13pm

Gidget, thanks for the info.

MYM

iVillage Member
Registered: 04-28-2005
Thu, 04-28-2005 - 9:48pm

I am new to this board and I have found that the archivd messages are very good. I a familiar with the cc syndrome and I have had to take out a home equity loan in order to become cc debt free. It was fortunate that I had sufficient equity to do this and that my house had appreciated considerably in a year. I would like to offer to write privately to anyone in this group who needs extra emotional support. I would also like to see if as a group we could look into different ways of staying debt free. I know that many of us got into debt because we had no alternative, but could we discuss consumerism a bit? Ours is a consumer society. How can we avoid being sucked into this I-want-want-want vortex? Right on this page and on the Living Simply page there is an opportunity to spend money on emoticons!!!!! ivillage magazines depend on advertisements that tell us to buy, buy, buy.
Don't get me wrong, this is a great board, but I would like to see how we can learn to ignore the pressure to consume more and more, buy now, pay later. In theory we are smart enough to make smart choices. In practice some smart people can make unintelligent choices. Any thoughts on how to avoid that?

tigermouse

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Fri, 04-29-2005 - 2:36am

Hey tigermouse - have you checked out Affluenza?

All my best,
Danni

iVillage Member
Registered: 04-28-2005
Fri, 04-29-2005 - 8:51pm
Hi Danni,
Thanks for the message. I will take a peek at Affluenza.
Best wishes,
tigermouse
iVillage Member
Registered: 04-30-2005
Sat, 04-30-2005 - 7:19pm

tigermouse,

I really think this is *exactly* the right place to talk about consumerism.

For me at least, the whole idea that you must have a credit card to be a "real" member of the adult community was a huge part of me getting into so much debt! (Note: I am not blaming the marketers for my debt, only saying that it was there, it was easy, and I bought into it.)

Having "stuff" is now a societal imperative. Must have a mini-van, a house with a lawn, a pure-bred dog, kids who wear GAP and Nike proudly...you know, all the white-picket-fence dreams. The Good Life. :-) None of these things are bad in and of themselves. The problem is that we feel we need it badly enough to mortgage our futures to get there, to have it now so we can prove we've "arrived"...and credit is the way to get there fast. You can always pay it off later.

I've said it before, but I swear it's like some kind of memetically-transferred Credit-Rabies and we're encouraged to become ill!!

(I, too, will check out Affluenza, thanks!)

Avatar for cl_phocid
iVillage Member
Registered: 03-26-2003
Sat, 04-30-2005 - 7:26pm

In addition to Affluenza, there's another great PBS special called the Secret History of Credit Cards.

All my best,
Danni

iVillage Member
Registered: 02-06-2005
Sat, 04-30-2005 - 9:37pm

Affluenza sounds really good!

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iVillage Member
Registered: 12-07-2003
Sat, 04-30-2005 - 11:08pm

WOW! Thanks for that post.

iVillage Member
Registered: 04-28-2005
Sun, 05-01-2005 - 2:45pm
Hi momma-tee,
You are so right? Is there a way we can all support each other's effort to simplify our lives? I have visited frugal living at about.com and found that while it has many good suggestions, it is not the ideal place for me.
Afluenza, I am sorry to say, strikes me as a clever way of capitalising on a trend. I notice that there are fees to be paid, books and CDs to be bought, etc., in many of these sites that presumably help people to live simply. I would love to see a site that goes well beyond that infinite uses of vinegar and baking soda AND that does not sell anything.
There is much in our lives that needs revision. One small example--in my community, hardly anyone shares a cup of coffee with friends in her own house anymore. Nearly everyone is scrambling about trying to earn more money and when they meet, it must be at a restaurant. Very few people have dinner in each other's homes because they think they must produce a five star meal, expensive wine and all that.
I have a small group of women friends that meets every couple of months or so. The hostess provies the main course--say, soup and bread--and the each guest who so wishes brings a side dish. This may sound overly simplistic, but I think that at the root of our discontent is the need to fill a vacuum in our lives. We no longer have time for friendship although we have time to shop for things we do not need. This is just my opinion. I would love to hear what evryone else has to say.
Shalom,
tigermouse

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