My Credit Card Regrets

I got my first credit card a few months back, and made all the classical mistakes that financial experts warn against. I'd always negatively judged those who went crazy with their credit cards, but I found myself doing exactly the same thing. I only had the card a few weeks and I was already going into the bank to ask them to increase my credit limit; unfortunately they were only too happy to oblige. I'm now in debt up to my eyeballs and have to work a lot of overtime to pay it back. I have always cherished my time off, but now I have to work most of it to pay off the credit card.

My problems started on the same day the credit card arrived on my doorstep. I'd ordered it from the bank, but only for emergencies – I also felt a bit left out because everyone else I know has one of these cards. My first mistake was that as soon as I got the card I felt the urge to test it out. I went to the shop and the idea hit me that I could treat myself to a few things and put them on the card. I was already starting to think of the credit limit as my money. I ended up buying a couple of expensive electronic devices that I didn't even need. I felt guilt leaving the shop, but what was done was done.

I thought that first splurge with the credit card was just a once off, but I did it again and again over the next few months. I felt almost helpless to stop myself as I slid further and further into debt – now I know how an addict feels. I started to feel a bit helpless but I didn't know who to talk to about the situation; I felt a bit ashamed to be honest. I wouldn't have minded so much if the stuff I was buying was useful, but most of it was junk. I was spending money just for the sake of spending it; it was like the credit card was burning a hole in my pocket.

Anyway, enough was enough, I went to the bank and said no more credit, and as soon as I pay the money back I owe that will be the end of it. I really don't need a credit card in my life; I managed perfectly well without it in the past.

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