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No more credit card debt!

RaistlinZ

RaistlinZ

Diamond Member
Made a payment today of $4,500 to pay off my remaining last credit card. Felt good. Felt damn good. 😀 And I've vowed to pay for everything with cash from now on unless it's an emergency.

Next up is my student loan debt, of which I still have about $14,500 to go. I've set a goal to pay that off by my birthday in Feb. 2010 which doesn't give me much time. After that, I'll be debt free for the first time in 11 years, and can start building up some personal savings again.

I was told not to close the credit cards even if I'm not going to use them though. Do CC companies close your cards automatically if you don't use them after a few months?
 
:thumbsup:

Awesome!!! 😀

Some cards to close them if not used. You might buy gas or something every few months (and pay it off) to keep it alive.
 
:thumbsup: Congrats!

I don't use some of my credit cards for months. I think if you use them once a year, they'll stay open.
 
niceee, congrats! I haven't let myself get over 1,000$ in debt on CC's. I usually pay off what I charge and only use the credit cars for convenience factors & the reward programs.

once the car is paid off and i have no debts i'll be stoked.
 
Originally posted by: Epic Fail
Great job, it's time to reward yourself with a shopping spree.
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Damn right. It's the American way! 😀

Well typically speaking, the OP is as un-American as they come! :Q
 
why not get a rewards card and just pay it in full every month? I would assume you've since learned to manage your finances since you're on track to pay a huge chuck by feb 2010.
 
Keep using it for stuff like gas and groceries to get the rewards (and if you have an emergency like a car wreck or something), just be sure to pay it off in full every month and don't carry a balance. Closing the CC or having the company close it due to inactivity is bad for your credit
 
Nice, congrats!

I've never been in the credit world till now. I have a mortgage and I also recently ordered all my furniture and put that on credit (0%). Also with all the renovations I may need to put some stuff on the card as there's a few weeks that I'll be in the hole given the order payments come out vs paycheck. It's scary to owe lot of money, so it always feels nice to pay it back after.
 
Congrats! In terms of keeping the card active, I don't really use my Citi card that often. However, I signed up for their identity monitoring plan as it charges 12.95 to my account every month and I get credit updates every 30 days from Experian (sp?). It's $157 a year (please, spending nazis, feel free to jump in) but that's a small price to pay for me knowing that my credit is safe and any charges can be ridiculously easy to cancel.
 
congrats OP! I had paid everything off months ago... however, i went the American way and continue to shop... shop..shop... 15K owed now 🙁 hope to have it paid off after tax refunds are here
 
Originally posted by: JohnCU
good job!

i still got 26kish to go
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On a credit card or student loan?

<---- Looks...$32,000+ owed to a *gulp*credit card*gulp*. 😱

(things aren't always the way they seem 😉 )
 
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