Finally, I cut that sucker in half

[rc5]

After 1 year's of struggle, today, I'm able to cut my Citibank Credit card in half. It's paid off in full.

Wow.



Yr/Mon Balance/Interest/Interest Rate/Payment amount

01/08 $2980/$38/16.2%/$62
01/09 $2960/$42/16.2%/$61
01/10 $2938/$39/15.9%/$61
01/11 $2912/$36/15.4%/$60
01/12 $2889/$38/14.9%/$59
02/01 $2863/$34/14.4%/$59
02/02 $2837/$33/14.2%/$306
02/03 $2562/$31/14.2%/$130
02/04 $2461/$29/14.2%/$202
02/05 $2286/$26/14.2%/$824
02/06 $1482/$20/14.2%/$533
02/07 $961/$12/14.2%/$385
02/08 $583/$7/14.2%/$438
02/09 $147/$2/14.2%/$25
02/10 $123/$1/14.2/$123

02/10/19 $0


Now talking about 1 down, 3 more to go. 🙂

 

[aphex]

congrats!

 

[NogginBoink]

Way to go!

 

[N8Magic]

Well done!

I too will have ALL of my CC's paid off by March 2003... it's a good feeling when you can just throw the card away and not have to worry about it anymore.

 

[StevenYoo]

congrats man. Now you can go help Karyn!

 

[Kadarin]

You could also contribute to the Astaroth33 fund...

😉

(congrats!)

 

[wyvrn]

kick ass man! Do it do it do it.

 

[BillGates]

I've got a nice balance set up myself....I just worry that if I ever get it paid off I won't be able to resist buying things again. I guess it's a lesson most of us learn at some time after getting in over our heads. I make 7-8 times more a year than my balance is, but after taxes I think I'm down a few hundred, heh...

 

[Yossarian]

Good job dude, sending in that last payment is always a good feeling. Don't forget to ask them to close the account and send you a letter if you want it off your credit report.

 

[yakko]

I am down to 3 cards and less than $7k and that should be gone by early next year.

 

[rayma2]

I dont have credit card debt yet but I am going to have a heck of a lot of loans to pay off when I am done with school

 

[chiwawa626]

I think my parents are the only ones who pay their credit card bills as soon as they get them, even cars and stuff they buy it all at once....

 

[roncarter]

Want a cookie?

 

[smp]

I'm starting to pay back my student loans next month .. 23,000
🙁

I think I might kill myself .. I really like the idea of punking them off.

 

[DJSnairdA]

Damn credit cards!

Good to see you got one paid off! 🙂

 

[SuperTool]

Originally posted by: smp
I'm starting to pay back my student loans next month .. 23,000
🙁

I think I might kill myself .. I really like the idea of punking them off.

Are you stupid? Student loans are 4% interest. The interest is tax deductable too. There is nowhere you will ever get terms this good unless you buy a car or something.

 

[ElFenix]

nice!

 

[Tallgeese]

Originally posted by: SuperTool

Originally posted by: smp
I'm starting to pay back my student loans next month .. 23,000
🙁

I think I might kill myself .. I really like the idea of punking them off.

Are you stupid? Student loans are 4% interest. The interest is tax deductable too. There is nowhere you will ever get terms this good unless you buy a car or something.

Amen to that! A student loan is the LAST type of debt you should attempt to pay off in just about every case, since the interest and payments are so low compared to other debt instruments.

I've had some truly dumb-@ss friends kicking their own @sses to pay off 4-6% student loans, and going into MASSIVE revolving credit card debt to the tune of 19-20%. 😕
Even knew one jack@ss couple determinedly socking their extra cash each month into a money market (which is not necessarily a bad idea for your short-term savings) but only making minimum pyaments on their growing credit card debt and paying 17% to boot!

I think people get nervous about all the "gloom and doom" cr@p they drill into your head about not paying off your student loans, and they completely forget basic rules of finance.

BTW: Most times, student loans are as good as NOT considered in mortgage loan applications.

 

[Tallgeese]

Congrats rc5!
Quite an achievement.

 

[narzy]

ya know you can actually cut the card in half before you pay off the balance?

 

[Grasshopper27]

Originally posted by: roncarter
Want a cookie?

Yep, I'd love one...

Congrats to the thread starter! Been there, done that, got a lot of t-shirts!

Grasshopper

 

[Cyberian]

Originally posted by: chiwawa626
I think my parents are the only ones who pay their credit card bills as soon as they get them, even cars and stuff they buy it all at once....

Nope! - They are not the only ones.
But they sure are smart.

I have:
1 house
2 cars
1 boat
0 bills

 

[gotsmack]

you're getting raped on the interest rates. I only pay about 12.** % and thats high. In a few years when I get better credit I'll try to get 8.**%

 

[Chaotic42]

I payed off the last part of my loan on Thursday. It's a nice feeling.

 

[geno]

sweet! Keep it going man! 😉