real life with (very) real debt
Found a lost credit card and wondering what to do with it?
This is a situation I found myself in recently. As a person who has lost a credit card before, I knew leaving it on the ground was not an option, but I was not sure what I was supposed to do.
In the same boat? Here’s the story of what I did and why.
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(Editor’s Note: This post is part two of a three-part series about credit cards (for part one, click here ). Given the topic of these posts, I want to offer a disclaimer: I am not a financial expert. I am simply sharing what has worked with us. If you’re looking for actual advice on credit cards – or anything financial – I recommend speaking to an expert. Personal finance is personal, meaning what works for us might not work for you. Now, on to today’s post)
I didn’t put a lot of thought into choosing my first credit card. In fact, I didn’t put any thought into it at all.
Instead, I did what I am sure many 19 year olds do: filled out the first and only form the teller at the bank gave me and lied when I checked off the box stating I had read the terms and conditions.
I didn’t shop around for better rates, I didn’t take any time to consider the perks associated with the card and I sure didn’t ask any questions.
Writing that makes me cringe now but…I was 19, you know? Thankfully, I have learned a lot over the last 10 years.
In fall 2018, I started thinking about finding a card that could offer better perks. My trusty VISA had served me well over a decade of use, but I wondered if there might be a card out there that would offer a little more in terms of tangible benefits.
After spending some time thinking about what I wanted in a credit card, I started shopping around. Here are some of the things I kept in mind when trying to find the best credit card for my current lifestyle.
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My first credit card was an RBC Visa. I still remember the process of getting it.
A few weeks after turning 19, I took the bus to the bank. After speaking with the teller, she pulled out an application form and led me a small table. I sat down, filled it out, then turned it in to be sent off.
I didn’t read any of the terms and conditions (although I checked the box saying I did).
A couple weeks later, the card arrived in the mail. A little red sticker on the front explained how to activate it; I followed the instructions then stuck it in my wallet.
A decade later, I still have and use that same card. Looking back, I wish someone at the bank had talked with me about how to use it in a responsible way, although I think I have gotten a good handle on it over the years.
I still use credit cards. And even though we have been working hard to pay off our $55K debt, I don’t have any intention of stopping.