What do you do when you go over a credit card, and don’t want to tell your spouse about your bad spending habits. This is exactly what happened to me.
This is how my downfall with my credit card happened. It was a Saturday morning and I had just received my mail. I opened up a letter that I considered to be a bill or junk mail. My eyes got wide when I discovered it was a master card. I called and updated my $500.00 dollar spending balance and quietly tucked my card away in my purse.
When My husband asked what was in the mail I quickly stated “O, just some junk stuff.”
It started out with just some simple purchases. It was an Iced Tea latte from Starbucks every other Wednesday. Then there were a few Amazon book purchases. I may have went to Dillard’s and ordered a few Steve Madden shoes. Let me tell you, those few purchases turned into an over spent credit card within a month. Now I was $500.00 dollars in the hole and keeping a financial secret from my husband. I felt like I was on egg shells, for the rest of the month.
As soon as I received my next two checks , I paid off my debt, cut and canceled my credit card. I finally told my husband about my escapade. He just laughed and said “I knew you had got a card. I saw a receipt where you purchased some shoes on the cars. I was just praying you wouldn’t ask me to pay for the card.” We both laughed.
However, I knew the way my budget is set up I did not need another credit card. Just that little card and what seems like little spending can cause stress and a lot of financial debts.
Credit cards can leave you homeless
If your credit card debt becomes too high you can get into some serious trouble, like bankruptcy. Your credit score will suffer and no bank will want to deal with you. If you try to rent a home or an apartment you will be in for a surprise. Once they pull your credit history and see your reckless credit card spending and the amount of debt you are in, you want be able to rent a piece of bubble gum.
Just monitor your credit card use. Remember to cut the ones with high spending limits.