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I paid a few more minimum payments on my credit cards yesterday, so that brings my credit card debt total to $26,664. There will be a bigger update by the end of the month, because I made an important decision yesterday.
I have been setting money aside for some home repair and I haven’t been having much luck in getting someone to do it. I am going to dip a little bit into that fund and pay off Credit Card #6. CC#6 was the one that was charging me finance charges and I didn’t catch it for a while because I wasn’t paying enough attention to my statements.
Since the terms that ended up being with the card were different then the sales lady told me, I was feeling pretty tricked. To add to that, I received new terms of agreement for that card. The change was not good.
I’ve thought it over, and I feel like I am holding a ticking time bomb with that credit card. I’m worried it is going to explode even more finance charges on me. I do not like this feeling, and I’ve never felt it before with any of my cards. I just want it to go away, and the only way to do that is to pay it off. I have the money, although some of it is for something else. I just feel so strongly about getting rid of that card that I’m willing to put off our home repair for a while longer.
Sometimes, I think you just have to follow what your gut is telling you. And my gut is telling me that CC#6 is bad news.
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Credit Card Debt
- Starting = $37,614
- Paid Off = $28,882
- Current = $8,732
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- Current = $3,750
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Posted: October 28th, 2006 at 8:27 am
Ok - Good, but how are you going to pay for your repair? Will you make it the winter without it?
Posted: October 28th, 2006 at 9:04 am
Hi D - Last winter I thought we wouldn’t make it, but somehow we did. I really feel like we need to get the repair done this year. I will be able to replace the money come next payday (near mid-November) and we could get the repair then. I just hope the snow stays at bay. I’m also thinking of putting up some flyers in the grocery stores for our truck in the garage and just ask for $200 (the junkyard offered $100). I think that’s cheap enough to get a quick sell. That money would really help.
Posted: October 30th, 2006 at 3:37 pm
[...] As I discussed a few days ago, we decided to pay off Credit Card #6. Today, the card was paid off in full. Once I receive the statement where the balance is zero we will then close the card. That card was my first and last store credit card. My lesson was learned there! So, with that payment, our total credit card debt as of today is $25,854. [...]