The Budget Fashionista

HELP!  I opened up a credit line with my favorite store in order to save the 15% on a recently purchased black suit for current job interviews.  I know its a big “no-no” in the budgeting world to open new credit cards, but I thought of how much I would be saving on my purchase and how it would be worth it in the end.  Now I’m not so sure.  I get daily email reminders about sales and offers and all I want to do now after I check my email is go online shopping!  I’ve been good so far, but I need some words of advice on how you all manage to not get “trapped” into the credit card pit of dispair!!!
Thanks…JP

My advise to you would be, if you are having a hard time not using the CC or you find it to be on your mind all the time cut the darn thing up and close that account.  If you think you can handle it and be responsible then unsubscribe yourself from the e-mails (sales and offers online) and find a safe place to put your card so you will only use the card when you really need to or want to buy something special.  Personally, I had to close my account with JC Pennys and cut the card up.  I have not had a department store cc since.  Credit cards can really mess you up if you don’t have the will power to not abuse them.  And that is what the companies are hoping you will do.  That way they get the late fees and the high percentage rates…. JMHO

snmmason, I just want to echo your sentiments—cut it up, close the account, and be done with it. Yes, you saved some money at the time, so no foul there. But now? It’s just too tempting, and not worth the interest and extra fees in the long run. Honestly, unless you can afford to pay off your balance every month—without risking someone shutting off the electricity—in the long run, the card is a bad idea.

The best part? There are still lots of sales to be had for those of us who chose to pay cash—no shame there!

you could discipline yourself from using it but if that’s too hard, i agree with angela’s and snmason’s advices. =)

I have to agree with everyone else on this. It is probably best to just get rid of it as this point before the temptation to spend too much overtakes you. You seem like you exhibited some pretty good discipline so far at least.

Cut it up now~! You could fall victim to one sale and be hit with 25% interest or whatever crazy amount they charge for months. I got myself a Macy’s card and I SWORE I’d only use it for sales and then pay it off right away. But my good intentions were squashed by pretty sheets and towels.

I agree with everyone else here. Just cut up the card and unsubscribe. Store credit cards are just not a good idea.

I was buying a skirt and top at Kohls, and I was determined to pay for them in cash so that I wouldn’t have to worry about adding more debt. The cashier tried her darndest (nicely) to convince me to open a store charge, but I held firm. I love that skirt and top, and I love the fact they didn’t add to my debts.

I agree with all the comments here. Using credit wisely is a hard thing to do at times. You need to know what you can reasonably afford to do, and also know when a bargain is not one in the interest rate reading the fine print and knowing what you are agreeing to is always a good thing to do.

As you can see from my screen name, I don’t use credit cards.

Years ago, I had a JC Penney and a Spiegel credit card as well as a VISA card - needless to say, I got in debt that was like a dark cloud that hung heavily over my head.

I made a decision to cut the cards up, pay them off, and never, ever use one again…

Guess what?

I survived!

I feel much better now - no more debt - no more guilt - no more hiding the mail from my hubby (LOL)

If I can’t pay cash now, I don’t buy it - simple as that - makes life sooooo much easier!

Long awaited response from me:

Thanks for all the advice!  The card is currently paid off and I’m cutting it up (right this second infact)!  no more impulse buys to be scared of in the future…

Good for you Just Peachy…

I have one store cc that I opened to because we got 20% off and free delivery for a new mattress.

I just think cards are worth it if the purchase is over $750 (20% off is then $150 saved)
AND you have the dough in the bank to pay it completely off before the ridiculous interest kicks in..