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Posted by Phil, Non-Squid on May 1, 2007, 12:04 pm
Bill Woessner wrote:
>>> [I am] moving into a new household with a very good initial salary
>>> and may need to make big purchases when I move in.
>>
>> DON'T DO IT!
>
> You guys are so hard on poor Phil. He didn't say anything about
> carrying a balance. How do you know he isn't looking for a higher
> limit just for convienence or rewards? I, personally, faced this
> dilemma when I finished grad school. I had a $500 limit and I needed
> to buy stuff for my first apartment. I ended up writing a lot of
> checks, which is so 20th centrury... :-)
It's understandable... with a large portion of the population drowning in
debt, it's easy to assume that "the new guy" is looking for easy answers
that will turn him into a debt-laden blob.
My first CC a few years ago when I first started school was $500 too... I
couldn't buy more than just a little bit before I had to pay off the
balance, which was really annoying. I switched over to others and tossed
the card aside. When I found it just recently and checked my account, the
limit was still stuck at $500. What a good bit that would have done, so I
closed all my unused accounts and now just use one primarily, with a second
as a backup.
--
Phil
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