Unfortunately, I did and I spent the first two years after college paying off the bills! I hope my LO is more responsible!
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Yep, thankfully I didn't get too much into debt, but it took me a few years to get my credit back on track because of the poor use of them.
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no but i had to take student loans out this year which is a bummer
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Yup! Credit Card companies should not give 18 year olds $5000 lines of credit. Learned the hard way
Felt so good when they got paid off
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Nope, but I was warned ahead of time! Thank goodness.
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Not so much in college, mine hit me when I was first out and trying to make it on my own. Living in a one bedroom apartment, new furniture, and still wanting to go out and party/shop like I didn't have other bills. We finally got it paid off, but I will be sure not to let my LO get into the same trouble we did.
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Nope! And I have still never had a credit card.
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Well I had a credit card in college but I wouldn't say I got "sucked" into them. I have never in my life had a credit card balance that wasn't paid off in full at the end of the month. My parents were pretty hard core about drilling it into me that you only buy things you can afford RIGHT NOW.
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no, luckily I got a credit card and managed to pay it off each month! I still think it's good for kids to get them then and just charge a little. My 27 YO brother never did and now he has no credit.
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yup! at 18, I definitely wasn't ready to handle the "freedom" of credit cards, and didn't fully understand how much, and for how long bad credit impacts you. Spent the better part of my 20's rebuilding my credit and now have excellent credit. I use credit cards for everything, but now I pay the balance off in full each month, and reap the benefits (free airline tickets, points, etc.)
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I had a credit card, but always paid it off in full each month--that was a lesson my parents hammered into my head!
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Nope. But I took out a ton of student loans....
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Yes......I was pretty deep in debt right before I met DH. He saw my situation and straightened me out right away, and I was out of debt within a year! He is the ultimate saver....Kind of embarressing because I'm supposed to be the accountant...hahahah. He always has been and always will be better with our money though at home and budgeting
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Nope. My dad put me on a joint credit card with my mom when I was 16 so I feel like I was some what educated about credit cards, debt, and my credit score by the time I entered college.
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Like @yoursilverlining I totally got sucked in and had no idea the impact it would have. I spent my 20s rebuilding my credit...and finally at 29 I have good credit again.
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I've had a credit card since I was 16 and always carried it with a little notebook showing how much was in my checking account so I never spent more than I had. I don't use the notebook anymore but I use the same principles.
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I was very responsible in college. It was later that I screwed up!
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I'm like @Mrs. Jacks: Did great in college, but then grad school? Fugghedaboudit. Royally screwed up.
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@eiko2010: High five! (meant ironically) I kept telling myself that I was following Suze Ormand's advice to spend a little in grad school to get ahead, but what I was really doing was funding a nice wardrobe and residency interviews travel on the hopes of a big salary later on. It took years to pay it off... but it's all a distant memory now!
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I've always been a pay it off every month girl..you could say I learned it from my parents' bad example!
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My parents wanted me to concentrate on school and not work so they paid my bill. Even then I was very budget crazy... didn't want them to take it away!
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Yup. I screwed up one time and my Dad bailed me out by paying them off with money from my Grandmother's estate when she passed away. I screwed up again (didn't learn my lesson) and spent a year on Dave Ramsey paying them off. Man, if I had that money in savings instead of frittering it away...
We WILL teach our daughter about responsible spending and not just hope she does the same as us...My parents are VERY good with money but we all just weren't big talkers. Sigh.
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I had to think back for a second, and yes! I did get suckered into it, but I never got myself too badly into debt. I maybe carried an $800 balance for a while, which sounds like SOO little now (but was a lot back for me back then)!! I got my first AMX while on Spring Break in Daytona Beach. You know how the cc companies set up tents and kiosks and entice the college kids with free stuff...
I think the worst thing was that I signed up for lots of store credit cards after college... GAP, Limited, Victoria's Secret, etc. Yeesh, I never open those cards anymore, but it seemed like a good idea at the time, haha!
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@Mrs. Jacks: Oh, I racked up debt last year while planning my wedding...what an expensive day!
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No. My stepdad warned me about excessive credit card spending because he racked up debt in college.
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@sweetchic: Bleh those were the worst. I opened up a Banana Republic card. They ended up sending me to collections over a $35 balance and I had to call and LOSE MY SHIZZLE on them because they never actually sent me out a bill or tried to call me themselves. Yes I should have remembered that I charged that money but I should also be able to rely on them to send me a bill so I know when payment is required. They apologized and let me pay over the phone and cleared my record right away but I was pissed. I never opened another store card again after that.
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Yep. My parents had to help me pay that first one off -- and it was only an $800 balance! I was so awful at money.
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