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Is the credit crunch affecting you?

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Old 04-14-09, 06:30 AM
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Default Is the credit crunch affecting you?

Hi there,

Was reading an article in the paper the other day about how the dreaded credit crunch is meaning lots of people are choosing to not have another child or even one at all - are people genuinely finding this the case?

I've found that while we might have been a little more frugal with our money we're still spending and if we wanted another child (which we don't....yet) we wouldn't think twice about it. It's all about the tricks of the trade in parenting finances!

Last edited by Dopey406; 04-14-09 at 09:53 AM. Reason: Edited out name of competitor site
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Old 04-14-09, 10:23 AM
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Our credit score has dropped even though we actually paid off 4 credit cards. Apparently once they were paid in full they didn't want our business any longer and closed the accounts. The accounts closing all at once caused our credit score to drop a good deal. I am pretty frustrated with the whole thing. Thankfully we won't be needing a mortgage/loan for a good while.

I was just angry that paying them off was what triggered the drop. Grrr! Three of the cards we have had since college (when we had no income but they gave us credit anyways) and now that we have income and the responsibility to HAVE credit it has been closed.
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Old 04-15-09, 11:19 AM
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We had the same thing happen Patience, but like you said, we aren't planning on needing any new credit anytime in the near future, so we aren't terribly worried about it. I did have one card triple my limit when I paid it off though.
 

Basically since we were already working on cutting down the debt before the economy tanked, it really hasn't hit us too hard. Dh is a little more nervous about having another baby, but it ultimatly isn't going to be a deciding factor in that decision. We have other pro's and con's that we are weighing.
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Old 04-19-09, 10:21 PM
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This must be a trend, they did this to my mom recently, and I wondered if her credit would drop. Apparently she hadn't used it in 3 years...sucks but they can do what they want.
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Old 04-19-09, 10:26 PM
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Because we were already on our way to having almost all our debt paid off and on a budget the economy didn't weigh in on our decision to have another baby at all.
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