I decided to celebrate my entry into the world of Regular Income by applying for a new credit card. My old one, with its dinky $500 limit, felt more and more like a baby wading pool. I was ready to upgrade to the big person’s pool now.
So I filled in the online application for a Virgin credit card. Yesterday, the magical envelope arrived. I eagerly tore it open and there it was, my new sexy red MasterCard. Hurrah! I flipped the card over and scrawled my signature on it. Now, I wonder what my credit limit was?
Carefully, I read through the accompanying letter. “Here’s your shiny new Virgin Credit Card… blah blah… Remember you receive 4.9% p.a. for… blah blah… Your Credit Limit is $10,800…”
WHOA!
Alarm bells began ringing. $10,800? Gee, that seemed like an awful lot. I could pay my car registration, insurance, HECS fees all in one month — and have enough left over to buy that scooter I’ve always wanted. Was this normal?
I wandered into my parents’ bedroom. “Mum, what’s the limit on your gold credit card?” She told me.
“Wow.” I managed to say. “The limit on my new card is higher than that!”
“What is it?” she asked.
“$10,800.”
“What?! That’s ridiculous!” Mum looked shocked and offended. “What are they thinking? How can they give that much to a kid!”
I blinked. “Mum, I’m not a kid anymore. I have a job, a car, a share portfolio, a…”
“Don’t be silly,” she said dismissively. “You’re still a kid.”
She’s right, of course. Until I do all my own laundry, I’m still a kid.
I rang the friendly Virgin Money team and got a friendly human response straight away. That’s pretty impressive before 9 AM on a Saturday. I informed the customer service representative that my credit limit was Virgin on the ridiculous (haha) and that I wanted a decrease immediately.
“A decrease? That’s easy!” she said cheerfully.
So now I have a limit less than one-fifth of the original assignment. I’m flattered that the good folks at Virgin Money thought I was ready for the deep end, but if you don’t mind, I think I’ll paddle around the kids pool for a bit longer.
Wow Joan, is that so?
I do all my own laundry, does that make me a “grown up”?
In fact, I have all those grown up-y things on your list… well, everything except a proper job… I guess I’m still a kid eh…
why $10,800?
Daniel
Being able to do own laundry doesn’t makes one a grown up.
i bliev joan is grown up enough to handle things in life. Niway, isn’t $10,800 is an amount too big even for many grown-ups?
nk
Wow, you don’t do your own laundry??? Sheesh Joan, I’ve been doing that for years 🙂 Gosh darn your envy-inducing parents…
Funny that you mention, but I applied for a virgin credit card (my very first credit card) last weekend, and is still waiting for a reply. How long did it take for the card to arrive? Well, congrats on your card… another step towards the road of freedom and adulthood. Weeee…. (hmmm… wonder how much credit i will get)