Monday, February 21, 2011

I Wonder Why Consumers Struggle With Debt...

Last month, we FINALLY paid off our Home Depot card.  We always seemed to have a balance because, after all, we have a fixer upper house.  There is still alot more to do to the house, and we'd get the 12 months same as cash and then pay off the balances before they started to charge interest.

For the first time in 4 years, we do not have a Home Depot balance.

In the mail, approximately 3 weeks after paying off our last project (french doors,) I get something from Home Depot.  Our old credit limit was $11,000.  This is what this mail said:

"Dear Todd M. Crispin!
It's easy!  Your credit limit will automatically increase to $12,500 when you make a qualifying purchase of $299 or more with The Home Depot Consumer Credit Card.   As an added bonus, we've included a coupon you can use when making your qualifying purchase to receive No Interest if Paid in Full Within 12 Months on your next purchase of $299 or more on The Home Depot Consumer Credit Card! ... "

We dont care about the credit limit, but in the past, this would be a time where Todd would think about what projects he wants to do this year on the house, and he'd go shopping.  Not this time.  We still have enough from previous purchases to last pretty much the entire year. There is still one window to put into the front of the house, pergo (fake pergo) flooring to put into the Living Room, a brand new front door.  That sounds like enough work for the year!

It's amazing when you can see the light at the end of the tunnel, how much you DONT want to take advantage of these "great offers."  We dont even see them as "great offers" anymore, which I think is a huge stepping stone for us and our future with debt freedom.

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