Herman by Jim Unger for October 11, 2021

Unclear on the concept.

That’s not how it works.

That’s what rich people and companies usually do.

And I’ve been unimaginably paying my bills

You can’t borrow unless you have debt. The more debt you have, the more you can borrow.

Debt makes you a slave to the contract holder.

My first major goal was paying off the mortgage at an accelerated rate by making extra principle payments whenever I could.

A rotating credit card balance is financial suicide.

I lack understanding the desire to be in debt.

Love within your means , know what I mean?

I want to get out of debt, not get more debt

Can we just call it a gift?

Just raise the debt ceiling and don’t worry about it.

A curious thing. It appears that, If you have 3 or more credit cards but pay them on time, your credit rating is good. But if you close one or more of them, your CR drops because, as they describe it, your borrowing power is reduced with each closure. So your CR seems to be based more on the total amount you could borrow than on a good repayment record. Strange.

I have been debt free for over 10 years. It is wonderful.

That’s pretty much the selling point that most companies of that type use.

How about you apply for a new credit card and use it to pay off the balance on the one you have now?

Call it a loan consolidation

Just kickin’ that can down the road.

From the same School of Economics: “But my account CAN’T be overdrawn; I still have checks!”