Living with Credit Cards

Part of Toronto living (or living anywhere actually) is having credit cards. See if you can identify the following “credit card phases” :

Phase 1
As newly landed immigrants – one needs to apply for a credit card. For reasons ranging from establishing credibility, easier transactions, to assimilating Canadian life. However, all your applications are denied. Reason: You do not have credit history. Of course, you do not have credit history because you are new, you do not have a credit card, and that is why you are applying for one. A real catch 22 situation. Darn these credit card companies !

Phase 2
So, forget about those credit cards. You get a job, you live life the simple Filipino way. Slowly, credit card companies who have previously denied your application starts sending you applications forms . They entice you with “You are Pre-Approved!”, “Lowest Interest Rates”, “No Annual Fees”, “Earn Points When You Spend” . Hmmm, this is getting fun, you feel so important. Someone wants your business! You apply, receive the cards -- yet you receive more mails. It gets to be annoying. Your mail box is deluged with all their junk mail. It is now an additional chore to shred these mails because it has your basic information. Darn these credit card companies !

Phase 3
Now, you have more credit cards than your wallet can carry. They are fun to have. You can get anything you want just by swiping and signing. Life is good. However, as most everyone knows, having these credit cards also includes having new friends: Judith and Therese. Judith is that friend who reminds you when payment is due. And Therese will run after you when you forget Judith. Due date and Interest – your new found friends. Darn these credit card companies !

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This is my 3rd post to the Series "Toronto Life"