There are some new government regulations going on with credit card companies. I read the information this morning, and now I've forgotten a lot about it. Credit card companies can't raise limits without your consent now, and your statement needs to tell you how long it would take you to pay off your debt if you just made the minimum payments??

In this article I was reading, the people were blaming the credit card companies for their debt, which is the most ridiculous thing I have heard. "They raised my limit!" "I got a credit card when I was a student and I didn't know any better." HO-LY!

Do people who get credit cards not realise this is borrowed money they're spending and that at some point, they have to pay it back? If someone receives the option to spend more money, do they have to spend it all? Everyone makes their own choices. If you're not aware if what you're spending, you can't really blame the credit card companies for your debt.

I got my first credit card when I was 13. (Wow, that was almost 20 years ago!!) I've never carried over a balance. I have dipped into my line of credit so I don't get skyhigh interest tacked onto my balance though. But it's quite simple...if I don't think I will be able to pay off my credit card debt in a set amount of time, I do not charge it.