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Just paid off 3 credit cards - at once!

D

DevilsAdvocate

Banned
Woohoo!!! 3 down... 2 to go. 😀

Of course, one of the cards has like a $7,000 balance 🙁

Anybody else in deep shiz with their credit cards?
 
Congrats DevilsAdvocate. I've been there. $14,000 over 5 cards. Best feeling in the world sending in the last payment.

Sounds like you are on the right track. Kill that debt!
 
good job, now it's time for you to help a brother in debt, which is me 🙂 send me few grands and i'll be set. PM me for bank #. TIA.
 
Originally posted by: DevilsAdvocate
Woohoo!!! 3 down... 2 to go. 😀

Of course, one of the cards has like a $7,000 balance 🙁

Anybody else in deep shiz with their credit cards?
Click to expand...

R U happy because you can dig a new hole or hang the shovel for now?😉

j/k! seriously, congrats and keep up the good work!!!
 
I went on MS Money tonight and discovered that I have somehow spent over $30k using my credit cards over the last 12 months...I need to stop buying so many toys! They're all empty now and I my $7k check just cleared to pay off my car...life is good!

D
 
I'm sorry, but how can you manage to get $7k (or $14k) in debts without "realizing" what you're doing?

But congrats for getting back on the track
 
Good for you! I seldomly use a CC, and I only have one, so paying it off every month isn't too difficult to remember. The rest of the time I use a checking card........can't spend anything I don't have, there. 🙂
 
Originally posted by: kag
I'm sorry, but how can you manage to get $7k (or $14k) in debts without "realizing" what you're doing?

But congrats for getting back on the track
Click to expand...

Well, in my case I was involved in a long distance relationship. Lots of flights and hotels and whatnot. Plus I wasn't making much at the time.

Then I got a much better job and just started attacking my debt from smallest to largest. Paid it all off in about a year.
 
Good for you!!

I have an Amex, Discover, MC and Visa and have never carried a balance forward.
I bet they all really love me.
 
I'm paying mine off at the moment. No more expenses. I've learned my lesson. Good to learn while i'm young and single.
 
Originally posted by: kag
I'm sorry, but how can you manage to get $7k (or $14k) in debts without "realizing" what you're doing?

But congrats for getting back on the track
Click to expand...


where did he say he didn't "realize" what he was doing?
There is nothing wrong with having credit card debt (or any other debt for that matter), if you know what you are doing.

Interest is how much future money costs to spend today; for some people it is worth it (or necessary) to burrow against their future income.

For instance, if you are in college, having $500 to spend probably means much more to you (ie, has more "utility") than having $500 as a 30 year old (regardless of inflation).
 
That's nice! Especially with your recent wedding and honeymoon. I told you that law degree would pay handsomely!
 
Originally posted by: DevilsAdvocate
Anybody else in deep shiz with their credit cards?
Click to expand...

yes me.. and you know what.. until I can find a job that pays more than 8 bucks an hour.. i will never be able to pay it off..

I either need a new job or a huge influx into my accts to pay them off.. because the way it is now i dont have a penny to myself.. everything goes to the cards and bills.

 
bah,
people with CC debt have poor money skills.
It is not how much the stuff you want now gonna cost in the future, thats inflation at most.

CC debt is the credit companies ripping you off on high APR.
No matter what you think, you cant spend more money than you have, you just acnt. If you need cash, get a loan.
 
That's great; congrats, DevilsAdvocate! I'm assuming that "paid off" means "paid in full and you dont' owe anyone else" right?

I recently took a bill consolidation loan out. I paid off and CLOSED four CCs with 10K worth of debt on them. While I still do owe the bank for the loan, two facts prevail:

1. The interest rate on the loan is much lower than the average interest rate of all four cards
2. My credit reports show "paid and closed" on those accounts. Four less open lines of credit = better Empirical score. 🙂

I'm getting there.
 
i was up over $7000 over 3 cards, and now i'm down to the last $300 or so on one card and about $3300 on the other. So i'm pretty happy, i can't wait to be done with these damn things
 
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