Friday, December 28, 2007

Credit Card Debt Consolidated

All my credit card debt has been consolidated. The APR is lower than what I was paying on the cards.
The actual cards are not being used. The consolidation loan will be paid off quickly, quickly, quickly.

I feel more free now. Simplifying my financial life is a work in progress. Three less bills in the mail box.

There is a bright light at the end of the tunnel.

10 comments:

SSC said...

I use to work for a major credit card corporation and I learned two things;

# 1 NEVER GET A CREDIT CARD, they count on you to not pay so they can make the interest.

# 2 Credit is more important that food.

I am so proud of you for paying off your debt. The feeling of being so free bust be a huge burden off your shoulders. Good for you.

I never had a credit card until a year ago, and it was to Target. Because I am loser. I ripped it up after being late one payment I was charged $40 and my rate went up. After that I continued with paying everything in cash!!!!

Good for you with the bills, way to bring in the New Year!!!!

MorethanMom said...

Would you mind expanding on your consolidation? Any tips? What to look out for?
Thanks :)

Ms. MiniDucky said...

Awesome, girl. These baby steps make all the difference.

Tired of being broke said...

Morethanmom,

I went through my credit union. I was able to get a loan that paid off all the current balances on the credit card.

If you are a member of a credit union I recommend you try and do it through them. For me it was a simple process, no fees, and an APR that was lower than my credit cards.

Organized Noise said...

I'm actually thinking about getting a credit card now. Haven't had one since 2000 and now that my credit score is flirting with 800 again, I think I should get one for emergencies (and events like the one that happened to me last month).

Tired of being broke said...

Good plan organized. Get it for emergencies only, and always make sure to pay off the balance at the end of the month.

With that type of credit score you should not have any problems getting one. Make sure it has some kinda reward points, or miles or cash back attached to it, and no annual fee.

Ms. Behaving said...

HAPPY NEW YEAR!!!! :-)

Opinionated Diva said...

Happy New Year!!! I love to read about my Black people (particularly women) ensuring their financial future. I wish you continued luck with that!

Sistah Ant said...

I did a consolidation, and it was a great help for me. I'm happy for you - the lower interest rate should really help you get the debt down sooner!

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