I was a young and stupid teenager when I received my first credit card offer; I didn't even have a job, but that didn't prevent me from giving in to the enticement of the credit power I wanted and American Express so readily provided. Fast forward a couple years to First Premier Credit card, the card you get when your credit sucks and you supposedly want to build your credit back.
I've had it for over a decade, ostensibly to build my credit back, but mostly I did nothing but repeat the same mistakes with money over and again, which is the definition of insanity. Then one day I got tired of this and decided to truly educate myself about money. And I put my sole credit card (First Premier) in proper perspective, saving it only for true emergencies like for car repair.
I've read reports complaining about the unfairness of the card suspending people's credit line, and I've read rebuttals saying in effect that the card issuer has the prerogative to set the rules, which rebuttal writers say are standard.....at least standard for sad slobs like me who lack the willpower or brains to maintain good credit and deserve whatever bum deal they get because 'beggars can't be choosers'.
Right? This is what's being said about us, and I lump myself into this category because I believed, too, that I shouldn't complain since I got myself into this mess. The thing is, when I made NO purchases on my card and carried a zero balance, I incurred a $6 "fee" because I didn't use the card. And didn't feel the need to pay it because the balance is so minimal, it wasn't worth writing out a check, putting a stamp on it and mailing the darn thing.
I'm not here to say there's something wrong with First Premier - though there is: they are bottom feeders and pond scum, but that is just a side point. My main point is: Life is hard, and I'm part of the majority of Americans who probably won't be able to afford a house and is struggling to find a decent and stable job, even with a great education - I'm still paying student loans...BUT. If I ever get a credit card - God forbid - again, I'm smarter and wiser than I was back then. I don't need them. They need me.
So after having my card privileges suspended for carrying a $12 TOTAL balance on my card - it's not the amount, right, it's the principle of the thing...I'm supposed to learn the lesson to pay my debts on time and the lesson that credit is 'not a right' and the lesson that credit card companies can and should be ABLE to charge me to NOT use their card, I think I've learned one more, very pricey, very valuable lesson - one that credit card companies have no intention of ever teaching any one of us: I live within my means and not use credit cards AT ALL, and only pay cash.