Feel addicted to credit
Bloopyboy
Posts: 4 Newbie
in Credit cards
Hello to make it short. I feel addicted to credit and love the feeling of getting new credit cards. I am 19 and got my first card in may 2017 which was a capital one card. From then I got a decent sized overdraft of £500 (not a student or anything) then I have acquired total 5 cards. Rates are awful of course because I’m young and barely have a credit history. Credit limit total isn’t very high, it’s £3400 currently
I do not abuse my credit limit nor make purchases I can’t afford on them but I keep having the desire to get more and more. May not seem like an issue really but maybe someone has some advice on how I can break from the attraction of credit cards
I do not abuse my credit limit nor make purchases I can’t afford on them but I keep having the desire to get more and more. May not seem like an issue really but maybe someone has some advice on how I can break from the attraction of credit cards
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Comments
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Sorry if I’m in the wrong sub forum. This seemed like the appropriate area but I may be mistake0
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Well for a start £500 isn’t a decent sized overdraft.
And £3400 isn’t a large total limit to have.
Simply stop applying for them0 -
I suppose as long as you’re not buying things you can’t afford then you’re not really doing anyone any harm.0
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Well for a start £500 isn’t a decent sized overdraft.
And £3400 isn’t a large total limit to have.
Simply stop applying for them
Decent for me I should of stated
£3400 isn’t large I know that but over 5 cards it’s silly
I know it seems simple to stop applying but it’s honestly a strange feeling to me and I always hope each card gives me bigger and bigger. It’s not like I sit and apply for them all day but every couple of months I see a card and apply and I feel like it will just continue for the desire of access to more credit :eek:0 -
Roland_Sausage wrote: »I suppose as long as you’re not buying things you can’t afford then you’re not really doing anyone any harm.
Yes thankfully I lurked this forum before I got my first card and learnt how to be responsible with them but on the downside I keep bloody applying for them every so often for fun really0 -
That £3400 isn't yours, it belongs to the banks. They are just numbers on a shiny piece of plastic. So what do you think when you look at them? Oooh look, I've got all this money? Well you haven't, you've just got shiny pieces of plastic.
Keep applying for more makes you look desperate. Cut them all up bar one, use it, and clear it every month. Start looking for something else to collect, dinky toys, or lego, or anything small and colourful that you can hold in your hand and admire.
ilonaI love skip diving.0 -
Yes thankfully I lurked this forum before I got my first card and learnt how to be responsible with them but on the downside I keep bloody applying for them every so often for fun really
I have countless credit cards with limits ranging from £1200 to £15000 but I treat them with respect and make them work for me and I never pay interest. Also I have found rather than keeping applying for cards its best to find out first what one of my existing cc providers are willing to offer me. I suggest you do the same.0 -
It's an addiction.
I'm always looking for the next credit card, current account, savings account, p2p account, sipp, whatever it is i need to apply for it, my credit score is up and down like a yoyo (i know it doesn't exist or matter) all the accounts have a usage though
I don't have any debt and i cannot wait till the statement arrives so that i can pay it off in full0 -
Maybe I'm reading this wrongly - but it sounds as if you like collecting bits of coloured retangular plastic ?0
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I can relate to the way you feel.
I was obsessed with money/saving from an early age, opening a "national savings bank" account at the post office as soon as I was 7. I once withdrew all my savings in the morning just so I could look at it, before redepositing it in the afternoon. It was the first time I had seen a £20 note (one with Shakespeare on it, still perhaps the nicest BoE notes ever issued IMHO).
I got a girobank account at 15 because that was the fastest way of getting a chequebook. They gave me a guarantee card soon afterwards (despite not being 18) and I loved the idea I could write out an entire cheque book of guaranteed cheques, even though I didn't have the money. The spending power was great. But I also liked the "business" of it all... the way the cheques looked, the watermark, the cheque card design etc.
I had two credit cards when I was 18 and several more as years went past. I got a buzz out of the spending power - the idea I could walk out of my home and spend thousands on "stuff". This was the era of posh American Express adverts and Alan Whicker's Barclaycard "replies". Google if interested. Credit was more glamorous in those days IMHO and the possession of a gold card impressed others.
BUT, I never did "go mad". I lived within my means and always paid the balance in full. I've grown out of it, though I still like to have lots of credit available "just in case".
So unless it's causing you to spend more than you should, I wouldn't worry!0
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