I signed up for an American Express preferred Blue card and got approved for a limit of $25,000. I have a 830 credit score. I realized that the places I shop don’t accept that card and you have to pay for it yearly so I canceled it.
Then I decided I was going to get a Costco Visa. Once I signed up the credit limit was only $5,000. So I canceled that one. So I stupidly signed up for a Wells Fargo Visa and that was $4,000.
Don’t leave yet and please don’t make fun of me but I’m not done being stupid. I decided I wanted a different American Express card and when I signed up for it the credit limit was $2,000 so I canceled that one.
Again I know I’m fucking stupid but how bad did I just fuck up my credit?
Credit cards have good protections against fraudulent webshops and often provide free insurance against damage and theft. This makes it worthwhile for buying a new laptop.
My card is automatically fully paid off at the end of the month, so mhe debt is very temporary
But you still pay interest for basically nothing.
Interest is only charged on the outstanding amount going into the next month’s cycle. Paying it off every month means all purchases are interest free.
Fair enough then, never used this kind of service.
If you’re fortunate enough to live in a country without credit scores, I’m jealous!