So I just got off the phone with the chase credit card devision, I let them know I was done with my card and I'd like my account closed. Turns out I had $80 USD in rewards that are being sent to me as a check. This means I'm $80 closer to paying off the next card!
I had thought, like so many before me I'm sure, that I'd only use credit cards for "emergencies" or to ease buying large items on the internet. Turns out human nature and "plastic money" dont mix, especially when one occasionally enjoys using the internet while drinking
It didnt take long for me to rack up more debt than I could pay down in a month, then in 2 months, etc. You know the story.
So I'm breaking the cycle. I'm paying down cards one by one and cutting them up.
Obviously I need an alternative, a positive-balance only, exchange-for-cash-able medium for digital fund transfer. Paypal is an obvious choice, but like so many others I've had problems with them freezing my account for nothing, siding with fraudulent buyers more than once (out of hundreds/thousands of transactions, to be fair). Not a great place to keep money. So....Bitcoin to the rescue!
I pay my electricity/heat bill and house payments in cash.
I own my own vehicles and bikes (ebikes), do not ever intend to finance a vehicle
I have gardened in the past and intend to grow much of of own food this coming year...plus I can buy groceries in cash
I trade on the internet, buy and sell lots of electronics/mechanical items/tools
So....what am I missing? Why do I need credit cards? Why do I need a checking account? Can't cash + bitcoin do everything I need? What do I need to think of other than much strong wallet backup/security procedures? How many would need to do the same before that core community attracted new buisness all itself?
