My Personal Finance Confession Project – Credit Card Rates

I’m starting this project because I have a confession I wanted to make, and after I wrote it out I thought it would be great if others would share theirs so we can all learn something. Or point fingers and laugh.

So, please share your confession and any related thoughts, plans of action , justifications and/or consequences. Then tag 5 others to share theirs. You don’t have to link back here, but it would be nice. If you do I’ll post a link to yours… And if you don’t have a blog, please share your confession in the comments!

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I have a confession to make.

I have absolutely no idea what the finance rates are on my credit cards.

I know, that’s blasphemous in the personal finance community. Since I pay my credit cards off each month it’s never mattered before. Who cares if I have a 21% rate if there’s never a finance charge? All I ever cared about was that I had no membership fee for the card. The rate has always been irrelevant.

But in the wake of layoffs at Husband’s job and the continuing downturn in our economy I realize that anything can happen. Illness, loss of job, civil unrest could all be on our horizon.

So, even though I have a very healthy emergency fund and would not want to accrue any debt unless absolutely necessary, I should be prepared in case it becomes absolutely necessary.

That means I need one card with a really good rate, and it should be a Visa or Mastercard since they are accepted in more places than American Express or Discover.

So, first thing when I get back from my vacations I’m going to check out my credit card rates, and check them against the best available rates out there. I’m loathe to apply for a new credit card when we’re hoping to buy a home soon, so here’s hoping I have a good rate on at least one of my cards, or can call and negotiate a better one.

Gee, that felt good. Confession is good for the soul…

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I’d love if these wonderful bloggers would help start this off…

PaidTwice at I’ve Paid For This Twice Already…

Mrs. Micah at Finance for a Freelance Life

vh at Funny About Money

Anna at To Be Debt Free

Pinyo at Moolanomy

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Other Personal Finance Confessions:

1. The Personal Finance Confession Project: Do as I say… at Funny About Money
2. Confession at Done To Zen
3. Personal Finance Confession Project at Mrs. Micah
   

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