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From Katie Porter at Credit Slips:

Like virtually everything else, credit cards have a lifespan. Some die a natural death at expiration, replaced by the next generation of shiny replacements. Others terminate prematurely, either through suicide when their owners get fed up with their issuer’s tricks or traps or through murder when the card issuer prematurely cancels the card . . . What to do with all these old cards? Read the rest of this entry »

It’s true.  Your Platinum Master card from First PREMIER Bank is Pre-Approved,” my latest post-BK credit card offer breathlessly informs me.  “We specialize in credit cards for those with less-than-perfect credit.  So even if you’ve been turned down in the past, don’t let that stop you.” 

All I have to do is go to their website, use my confirmation number and I can get my “credit response” in just 60 seconds.  That’s even faster than a “loan officer” could’ve closed a subprime mortgage back in the day.

There are a few minor fees, however:

Minimum Initial Credit Limit      $250

Program Fee                              -$95

Account Set Up Fee                    -$29

Annual Fee                                -$48

Monthly Servicing Fee                  -$7

Available Credit                           $71

I should point out that the monthly servicing fee comes to $84 annually, but they spread it out and only bill $7 a month for it.

Thanks, man.  Still, I think I’ll pass.

The photo of my burning credit cards is symbolic on several levels.

I burned them after I received my Chapter 7 debt discharge letter, which finalized the death of my old credit lines.  The cards were completely useless.  It was time for them to go. 

Burning my cards symbolically cleansed my irresponsible financial habits and started a new life of living within my means.

It is symbolic of our culture of easy credit and instant financial gratification going up in flames. 

What rises from the ashes will be up to us.