Tales From the Crypt: When Credit Cards Go Bad

It was a dark night all around when I was logged on to FreeCreditReport.com, the one with the catchy jingles and the misleading commercial, as I’d later come to find out the singer was lip-syncing. And there it was. The one thing that could shoot me down in what seemed to be my best year ever. My credit score.

The day I got my very first credit card all on my own was a milestone in my life. It was an Alaska Airlines credit card and just the thought of the miles I could rack up from my shopping sprees was enough incentive to swipe away. Mind you at this point I didn’t have one thought about fees, spending limits, or the bill that came along with it. All I knew is that I had a card with a $1,500.00 limit that I could spend right then and there. Heaven.

Yeah I had my job, personal bank account, debit card and all that, but I also had a completely irresponsible shopping habit that hadn’t done me wrong until then. As long as I had credit left on that card I kept swiping, paying small amounts back at a time. I was always told to use my card frequently to keep my credit score up but I guess there’s a line that I crossed. I got to the point where I had no more credit on my card to spend. It had to be put away while I slowly paid off all the instant gratification that I enjoyed while it lasted.

Here enters my dilemma. As I spend my months teeter-tottering on a maxed out credit card, to a card with zero balance that I don’t want to use (in fear of maxing it out again) my credit rating is taking a swift kick where it hurts. To create a good credit score isn’t just having a card, but using it wisely, and only charging certain amounts, consistently, every month. For a college student, I was advised to charge about half of my very low credit approval rate, and pay it off every month. With my credit spiraling out of control, I did the unthinkable. Closed…my…account. It was a few months after closing my account and still paying off my debts that I logged onto FreeCreditReport.com .That dark, lonesome evening when I realized I had dug myself into a hole it would take years to climb out of. As I venture off into my new journeys ahead, trying to undo what has been done, I only hope that the lessons I learned will reach you, and help guide into the direction of financial stability.