Quote:
Originally Posted by RavYak
I like getting preapproved letters. I have over 30k I could borrow if I need to but I won't touch it unless something drastic happens and I need that kind of money quick. It is a lot easier to borrow money from something you already have then to have to ask for a loan from a bank in a tough time. You just have to be smart about it and leave it as a rainy day fund, if you use it just because you have it will get yourself into trouble.
|
I agree with you. I toss them because I have my rainy day fund already...soon to become my retirement fund
But I know more than a few people who send in for the new card, or set up the line of credit...and soon have another card that is maxed out to add to the list of the three or four others they have.