Posted By:
PhilIn response to Michael C's statement:
"With all due respect, people who make bad choices in situations like this are a major reason why our country is in such bad shape. People wanted to remodel their kitchens, refi'ed their house to a cheaper mortgage and now can't pay their bills. They have a nice kitchen, but now the bank owns the house.
My vote is sell the cards if you want to spend new money. Don't add any more debt. They are just cards."
I guess you didn't read my entire post. My wife and I put money aside (cash) to save up for our project. We have paid for the entire project in cash. No loan. No debt. Now, we want to upgrade a few more things and will need some more money. Instead of putting everything on a credit card or taking a home equity loan, I am trying to stay with no debt by selling my cards. So, please don't put us in the same boat as people who have bought houses way over their means and defaulted, etc., etc. As I also stated, my wife and I don't owe a single penny to a credit card company and we still managed to put money aside to start this project.