The bad news was he couldn’t do anything about my FICO score. The credit card company had checked my credit with the reporting agencies as soon as I had pressed 1 all those minutes ago and they couldn’t “uncheck” it.

I wanted to kick myself. Somehow this credit card penetrated the arsenal I’ve built up to protect myself from dumb mistakes like paying late fees and using high-interest cards. I started out feeling smart for saving a $45 membership fee and ended up feeling suckered.

The truth is, I don’t even use credit cards much anymore. My new rule is that if I can’t pay cash for something I don’t buy it. If I really want it and don’t have the cash, I use my debit card. That way I see the damage immediately and I don’t have the stress of figuring out how the banks are trying to screw me.

Credit cards do provide the security of knowing I have access to other people’s money, even if it comes at a high interest rate. But you know what? It finally occurred to me that I could save the equivalent of my credit limit and put it in a bank and have them pay ME interest.

Julie Salazar is co-founder of www.MoneyPants.com, the web community that helps women enjoy their money journey. MoneyPants offers a fun and friendly online software and articles that help you figure out where your money's going so you can create a personal (and realistic!) spending plan to reach your goals.