We were approved and it is making me anxious
I got an email this evening that we were approved for the AT&T Universal credit card (the card we applied for with the 0% interest on balance transfers offer) and for some reason it is making me feel extremely anxious. I guess this whole opening another line of credit to take care of our current line of credit thing puts me a little more on edge than I anticipated. Too late for regrets though, the credit card has been opened already. No turning back now ;).
I won’t know what our credit limit is until I get the card in the mail with the accompanying paperwork (less than 10 days the email said) so, we’ll see. Maybe that’s why I am on edge. I don’t know. But I feel very anxious and edgy about the entire thing. My brain has felt fuzzy ever since I read the email and I am finding it hard to concentrate. How crazy.
I don’t do change well, if you haven’t noticed. I very easily become complacent and accustomed to my own status quo. Maybe that’s it. Who knows. I know I thought this was a good idea once upon a time. My spouse and I were even musing earlier about how maybe we’d be able to actually pay off the entire balance in the 12 month interest free period with some luck and good months for me contracting and a minimum of emergency expenses. Yet I still feel rather disconcerted and weird and “off” and edgy. It isn’t like I love paying Capital One interest every month. Heck, even the Capital One rep on the phone told me I should transfer my balance! So why do I feel so ambivalent about everything….
Today has been a bizarre day. I think it is time for bed!
~J
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August 3rd, 2007 at 10:54 pm
Congrats on the approval! I did the 0% transfer thing multiple times years ago when I had accrued about $10,000 in CC debt thinking I would be done with grad school soon, then decided to do another two years of post-grad work and *freaked out* about the debt because I was signing on for much less than I had expected to be earning at that point. I’ve read your ruminations on what to do about the CC debt/balance transfer options, and I say go for the transfer as much as they will allow, then look for another balance transfer offer when that is about to run out. Yes, your FICO score could take a small hit if you keep applying for credit -I was ultimately denied a card , which was a ding to my *Ms. Perfect Credit* identity, but you already have your mortgage, and I was back into the high 700’s within a couple years. The interest savings was worth it. IMHO.
August 4th, 2007 at 12:29 am
You know, I think my problem is I fear not being approved too. lol. The FICOs were fine before the house (high 700s/low 800s) but with the shopping for a mortgage, taking on a mortgage, and then applying for this card, I don’t know what they are any more and I don’t want a company to say no.
Pride I guess. lol
Hopefully the limit on this one is just high enough to do the whole thing. With a little luck and much diligent saving we are hoping we can swing paying the entire balance in the 12 month promotional period (a stretch but possible) so then we could just be done with thinking about it. lol
Thanks!