Ever maxed out your card? How quickly?

Have you ever maxed out a credit card?

Ever maxed out your card?I have shared in my book, Everyday Money for Everyday People, and often in my workshops, that I learned about credit cards the hard way. I maxed out my first credit card in a matter of hours (36, from what I recall, at a music store buying a keyboard synthesizer, stand, and studio monitors). I missed payments, was sent to the card company’s internal collections department, and eventually worked out a repayment plan for less than what I owed. And that was just one of several cards I had in my twenties. Needless to say, my credit rating spent most of my twenties in the tank. Fortunately, experience can be a great teacher, and I’ve learned a thing or two since.

How about you? Have you ever maxed out a credit card? If so, how quickly? Please fill out the following poll and then consider sharing an experience in the comments below.

 

Thank you!

Todd Christensen-Author of Everyday Money for Everyday People, Todd ChristensenTodd Christensen
Everyday Money for Everyday People
www.facebook.com/oureverydaymoney
http://pinterest.com/everydaymoney
twitter.com/everydaymoney4u

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