Credit cards & limits - Part deux

This weekend I logged in to my online banking website to check out whether my latest credit card payment had been posted to my account, and I noticed something strange: my credit limit had been increased. Now I purposefully have a low credit limit to discourage myself from spending it, as I know that I would. I even had the bank put a note on my file, telling them not to raise it without asking me first (most banks have this feature, you just have to ask). So I was a little concerned to see the increase, especially because they raised it $3000! They just doubled my limit in the blink of an eye. I was a little stunned. Then yesterday in the mail I got a letter from the head of the Customer Service department telling me about the increase, and how they did it because I'm such a loyal customer, blah, blah, blah.
I'm half tempted to get them to lower the limit again, however they're also giving me a balance transfer deal till May 2007, which would actually allow me to consolidate and cancel another card that I was only using for their low balance transfer rate. I was actually going to have the other card paid off by February anyways, so I wouldn't actually be losing any interest savings anyways. I'd just be saving on the aggravation of having so many cards on my credit history.

New Jobs & Higher Pay

Life in Alberta is pretty good these days, what with all that oil money flowing around. I've seen reports of typical minimum wage jobs being left empty because employees can find higher paying jobs elsewhere, so that these places are starting to have to pay oil salaries in order to find staff! Can you imagine? A fry jockey at McDonald's making $20 an hour? It's not unheard of.

So imagine my surprise today when I see a sign here in Toronto from an employment agency advertising construction jobs in Alberta: "Work in Alberta...$10-12 an hour". Hang on a second, why should I move all the way out to Alberta for a job that only pays $10-12 an hour? I mean, I could find that type of pay rate (or better) here in the GTA. I'm sure you could find better pay rates for the same job in Alberta! What's the deal with that employment agency? I surely hope that sign was posted incorrectly, otherwise some poor schmo is going to get taken, big time!

Flip...Flop...And Back Again

Okay, so I'm vacillating again between paying off my debts in order of interest rate or size. I had initially told y'all I was going to do it in order of size a few weeks ago, but then I changed my mind...and now I've changed it back again. Seeing items drop off my list is a more satisfying thing rather than paying down a higher interest rate debt. My higher interest rate ones are a higher amount, so it's more difficult to pay those off first. So, my plan is to pay off the smallest amount first, so that I can see my list of debts decrease. That's more satisfying. I recommend that to you all as well, if it's feasible.

Credit cards & Limits

Horrors of horrors, I actually went over my credit card limit this week! I've never done that before, and I'm frankly, a little surprised that the bank let me do that. I consolidated my bills last month, and there was a gap between my next paycheque, my cable bill and my statement date, which is why I went over. It's back down now as today is payday so I was able to make a payment, however I'm still a little surprised that they let me do that. Is it because I've been a customer of theirs for 10 years? And why haven't they charged me an extra fee for that? (I'm just waiting for that one, as I'm assuming there is a fee for it...they've got fees for everything else.) Sheesh.

But I'm happy to note that this paycheque is the beginning of the end for my oversized debt amounts. Yes, today is the start of the Attack on my Debt! I've cleared enough space on my line of credit to start getting rid of debt products on my credit history. First to go is the personal loan. Next is low interest credit card (I'm switching it to a cash back card next month, so that I'm not tempted to leave a balance on it. Low interest just doesn't work for me. I need that threat of 24% in order to not shop. ;-) ) Then it's the low low interest credit card (they gave me a deal on a balance transfer). And finally, the line of credit itself. I'm quite excited about the prospect of knocking off the debt one by one.
Ciao!

Must-not-buy-new-computer...

So my gadget gene has activated again and has got me thinking about a new computer. You've got to understand that I just bought a new laptop last December to replace my old desktop. So there is no need to buy a new one. My laptop is functioning fine and is doing all the things I need it to do. Except that I want a new one! :-D Last time I almost made the leap and bought a Mac, but then decided I enjoyed playing around with the computer too much, and bought a PC. But in recent months I've been thinking about simplifying my life in all aspects (purging old stuff, paying off debts, saving some cash, etc.), and I've now started thinking about my computer.

My remedy for this itch is this: I will start a new Mac savings fund, and when I have enough cash, I'll go buy it. Since I don't NEED the new laptop, but rather WANT a new one, it's definitely not going on credit, which I shouldn't be doing anyways, since I'm trying to get rid of bad debt, not get more.

Phew, I feel better having gotten that off my chest....

For shame Dominion

So I popped into Dominion this afternoon to pick up some cereal as I ran out this morning. It's in a mall near a few seniors residences, so there are frequently tons of seniors there. (why I mention this will become clear shortly) I snag my Jumbo box of Special K Red Berries and get in line. I wait patiently in line for 10 minutes, then it's my turn. The cashier scans the cereal, and the price comes up...$7.49. Whoa, hold on a minute! $7.49? That's a whole $1.00 and change more than anywhere else, INCLUDING Loblaw's, which I thought was normally more expensive than Dominion. I left that box of cereal right there at the cash register and walked out, because that was just outrageous. I could not believe that Dominion is ripping off customers (and all those seniors on fixed incomes) like that. Sure, I can afford to go to another grocery store and buy it for $6.59, hell, I can even go to Wal-Mart and pick it up for $6.49, but what about the seniors who can't?

For shame Dominion, ripping off the little old ladies and granddads who come to your store out of convenience. For shame.