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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iVillage Member
Registered: 04-30-2005
Sun, 05-01-2005 - 9:00pm

favourmouse,

I think we should help eachother, yes, to uncover the motivation behind spending and credit.

I don't think all spending is bad (would never give up high-speed internet at $40/mo!), but I really try to consume *consciously*, not mindlessly purchase something because I think that's What I'm Supposed To Have At My Age. I won't say it's always successful, but having limited cash and no credit is a great incentive to think about what you're buying!! Not to mention who is really profiting from it.

(And if you don't believe credit is an indicator of The Social Norm, try booking a hotel room without a credit card. You might as well have NINE FREAKIN' HEADS!)

I sometimes think that we are filling up some sort of void in our lives with "things". Maybe these are places that used to be filled with community, I don't know? I really applaud you, though, for making the space to entertain without spending. I do the same thing with friends, and it's the most pleasant (and least financially stressful) entertainment in my life.

BTW, if you're looking for another perspective on simplification, you could try the "Living More With Less" books. The Mennonites publish them, and whether you're in support of organized religion or not, they have some cool ideas on how to make your life more socially and environmentally responsible. I don't think they will try to sell you a T-shirt, but I could be wrong!

momma-tee

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