1,497 Credit Cards For One Man

I found this story through Financial Maturity.

Walter Cavanagh has amassed a collection of 1497 credit cards and earnt himself a place in the guiness book of records.

What started as a bet in the 1960’s has turned into a $1.7 Million line of credit.

Unlike me Walter only uses one credit card and pays it off every month.

Credit Card Journey Slows

Not much of interest in this post, not a lots been happening on the credit card front lately.

I’m still holding off on getting a consolidation loan to pay off the credit cards, I pretty much have a good permanent job now (for the first time in five years), but I’m still in my probationary period for another 2 months. I’ve heard some lenders won’t borrow to people during their probationary periods and I don’t want a failed loan application on my credit report, I’ll hold out another couple of months and then is should be smooth sailing.

I think I have about $300 in my everyday account which I plan to transfer to my credit cards in the next day or two. I shouldn’t need the extra cash until next payday, but I’m always wary of not having that little bit of backup. If worst comes to worst I can either draw a cash advance which costs $25 in bulls$#t fee’s or I can raid my coin jars and show up to some social occassion with sack full of dubloons.

On the good news front I managed to motivate myself to have a play with my car on the weekend. It’s been running real rough for a few months now, but I’ve hesitated spending the money on a proper service as I only tend to drive it on weekends. It’s basically a two tonne shopping trolley. My mechanical skills at their best could be described as medicore, but with $100 in parts I’ve managed to get the old girl running smoothly now. I could spend a whole lot more on her, but I really can’t justify it for the return I’d get on it.

And just for the record the car parts did NOT go on the credit cards.

Possible Promotion Good For Credit Cards

I’ve been asked to apply for a temporary promotion at work. If it comes off I’ll be about $280 a month better off for atleast three months.

Unfortunately it won’t be pure profit. I’ll be in the public eye a bit more, so my normal work uniform of jeans and a t-shirt will have to be replaced with the old shirt and tie, with slacks.

So I will have to go and invest in some new clothes but that’s okay, I’ll have extra money to put towards the credit cards after the first month.