Just read what my credit card company is going to do to me!!!!!!!!!!!!

[PinkRhombus]

If there is a pool of cash available for your husband to buy toys with, why isn't there a few extra hundred dollars a month to make the credit card payment? If you are paying cash for everything, why can't you cover the minimum payment?

Well...if this is the situation OP's family has put themselves in, then I hope it hurts them to try to make these payments because they, obviously, have no other incentive to be responsible.

 

[RachaelA]

I just still can't believe he won't return the $800 toy he just bought that he has absolutely no need for. He hasn't learned anything. If he had he would have returned it!

 

[Green Tea]

Incidentally I saw a commercial yesterday for a rental chuckwagon. They would bring the thing to your house and pick it up when you were finished. Sounded like a Pod, looked like the back on a dumptruck.

 

[tonilea]

OP, I would really encourage you to buy (or borrow from the library) "Total Money Makeover" by Dave Ramsey. Then get your DH to read it!

Even better, IMO, try to take a "Financial Peace University" class. Again, by Dave Ramsey. The 13 week course (one evening per week) costs about $100, but it changed our lives.

 

[Mrs.Reese]

This will come off as being well either vindictive or sneaky but I think the OP should just sell her DH toys. Yes your doing it behind his back but if her situation is this desperate and her husband is such a child that he won't sacrifice then it's time he gets treated like a child.

 

[pixie921]

never mind ...

 

[m&m's mom]

Oh my OP! Now you've gone and done it! Tide is definitely turning.
Seriously, settling is proposterous. Why should the bank and all of its customers pay for your "toys"?

 

[nowellsl]

I really think you're lucky you got higher minimum payments instead of them jacking your interest rate. At least the money is going towards the balance rather than down the drain in interest!

You will be amazed at how fast that balance will go down once you start making that higher payment.

I had about the same balance on a credit card about 5 years ago decided to get out of debt - I paid as much as I could over the minimum at the time and kept raising my payment every chance I got. I went on a serious spending freeze! It was the best thing I ever did! I was even able to pay cash for a new used car last year when my 95 Buick finally bit the dust. And I have more in savings than I ever have. I say suck it up and pay it as quick as you can! Pay it monthly before DH has a chance to spend that money! Good luck!

 

[ShellyLynn3630]

I totally agree about selling this sh*t of his. It is just completely out of my hands. And I am pretty decided on not trying to settle, I don't think it would work anyways. That is kinda funny about that poster talking about selling it behind his back, but that would be an immediate divorce. I do know that he loves me, but sometimes I wonder if he loves his material possesions just as much. And that is not what life is all about.

 

[IDoDis]

DW and I live a nice financially secure life. We don't have any debt besides mortgage and one car payment. We use our cc for almost everything possible for the reward points. We pay off all our cc bills every month. We have an excellent credit rating. We've also been receiving the letters from cc companies about raising interest rates. But, I really don't care. As long as they don't lower my rewards or charge me an annual fee.

That being said, in this economy we have decided to forego our annual vacation trip this year. We usually go somewhere nice (i.e. WDW, Hawaii, etc...) My job seems secure, but I can't guarantee it and for how long. So, we've cut back on eating out and vacation for now. We've kicked up the savings, car loan payments and we'll delay that trip for now.

We also pay our cc balance in full each month and get the rewards. I read that in a few months when the new rules go into effect, the credit card companies are going to start charging people like us who pay the balance in full each month a $100 yearly fee and/or charge a daily interest rate, so that there's no float time from the date you make a purchase to the payment date.

If that happens, and it seems very likely that it will, I'll open up another checking account with a debit card attached and keep some cash in there so that I can still pay for things online when a credit card is needed. I don't like my main checking account/debit card floating around on the web due to credit theives, so I avoid using that account for purchases online, but would open up a separate account with a Visa debit for that purpose.

The cc companies can then stick it where the sun doesn't shine, because I don't need credit cards. I just use them for the rewards.

 

[robsmom]

I totally agree about selling this sh*t of his. It is just completely out of my hands. And I am pretty decided on not trying to settle, I don't think it would work anyways. That is kinda funny about that poster talking about selling it behind his back, but that would be an immediate divorce. I do know that he loves me, but sometimes I wonder if he loves his material possesions just as much. And that is not what life is all about.

Dave ramsey will often tell callers that they have a marriage problem not a financial problem. I think that describes you. Do you have a pastor or someone who could counsel you. If he wants to be the boss make him in charge of all bills. He needs to see this.

 

[crisi]

I'm not sure I'd put him in charge of the bills - he sounds like a child. But I do think you need marriage counseling. I think he "hears you" when you talk to him, but that he isn't really understanding what you are saying.

Living with a partner who can always find money for his toys, but isn't interested in paying the bills is a stressful situation if you are not similarly irresponsible. That isn't a good place to be in with a marriage.

 

[Ava]

We also pay our cc balance in full each month and get the rewards. I read that in a few months when the new rules go into effect, the credit card companies are going to start charging people like us who pay the balance in full each month a $100 yearly fee and/or charge a daily interest rate, so that there's no float time from the date you make a purchase to the payment date.

If that happens, and it seems very likely that it will, I'll open up another checking account with a debit card attached and keep some cash in there so that I can still pay for things online when a credit card is needed. I don't like my main checking account/debit card floating around on the web due to credit theives, so I avoid using that account for purchases online, but would open up a separate account with a Visa debit for that purpose.

The cc companies can then stick it where the sun doesn't shine, because I don't need credit cards. I just use them for the rewards.

If this happens I'll be really sad - I love my rewards! But it's not worth paying 10+% in interest to get 1-2% in rewards. I may be willing to pay an annual fee, if the amount of rewards I earn in a year is more than the fee, but if they start charging a daily interest rate I'll stop using those CCs in a heartbeat.

 

[Mrs.Reese]

It does sound like you need marriage counseling. Unfortunately, I have to agree with many others on this board that it sounds as though you're married to a child. If he would honestly divorce you over stuff, you need some help.

 

[punkin]

It does sound like you need marriage counseling. Unfortunately, I have to agree with many others on this board that it sounds as though you're married to a child. If he would honestly divorce you over stuff, you need some help.

OP said he'd divorce her f she sold the stuff behind his back. That's a different story.

 

[nursears]

Everyone wants the American Dream but no one wants to pay for it.

You sound like a very nice person, so no harsh feelings intended. BUT, I hope you learn a valuable lesson from this. Rather than negotiating a bailout or arrangement with the CC company, I hope you find a way to make the payments. It is their money after all, they have a right to set the terms. This is a perfect example of how American greed is hurting us all ... from the top to the bottom.

It is very frustrating being someone who plays by the rules seeing others play the victim when asked to live responsibly. I'm tired of paying the price and seeing my benefits be cut because of those who abused theirs. The day is going to come very soon for all of us when we are forced to live in a more conservative way, but until then, I really hope people will take the initiative on their own. Good luck.

 

[ShellyLynn3630]

Hey, I have got a balance transfer offer from citibank for 1.9% until like July of next year and I may just take them up on the offer. The only thing is I wonder if they will hike their minimum payments as well. Would do me no good if they did. What do you think?

 

[Green Tea]

Hey, I have got a balance transfer offer from citibank for 1.9% until like July of next year and I may just take them up on the offer. The only thing is I wonder if they will hike their minimum payments as well. Would do me no good if they did. What do you think?

Rather than thinking of ways to make the payment lower, you ought to find a way to make the debt lower-by just getting it paid off.

 

[wall*e2008]

Hey, I have got a balance transfer offer from citibank for 1.9% until like July of next year and I may just take them up on the offer. The only thing is I wonder if they will hike their minimum payments as well. Would do me no good if they did. What do you think?

Did you read the find print on your Chase letter? It says they have the right to REFUSE a transfer check.

 

[wall*e2008]

OP said he'd divorce her f she sold the stuff behind his back. That's a different story.

Nobody should ever sell their spouses belonging behind their back and a nobody should be buying toys without the input of thier spouse.