Eliminate Credit Card Debt
4 months ago
I don’t want to have any credit card balances by 7/1/2010
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Entries
Bye, bye credit cards!
21 months ago
Hurray!
I love not having a balance on my credit cards. I love not seeing the interest charges. I love feeling more in control of my finances.
Credit cards are a dangerous thing to give students. I’m just glad I managed to get out of debt without too much trauma – I know I’m one of the lucky ones.
A plan in motion
3 years ago
As a student I started to accumulate some debt on credit cards – mostly through genuninely needed things, but admittedly also some frivolous spending.
Of course, the credit cards they offer students have astronomical interest rates on them, so the debt just sort of snowballed. Even after getting a well paying job and always paying more than the minimums every month, the debt has just never dropped.
About a year ago I applied for a debt consolidation loan through my bank and was turned down. They wanted a co-signatory and I really have no one to ask… Then about a month ago my friend Melissa mentioned she’d just gotten a debt consolidation loan through a local credit union – so I applied.
Today I signed all the papers, they’ve paid off my credit cards and my interest has gone from 19.9% on some cards to prime + 2% with my new loan.
I feel such a relief that things finally seem workable – there is a light at the end of the tunnel…
I look forward to making some calls to all the credit card companies to negotiate a better rate. Whoever offers me the best rate will be the one card I keep and all the others will be cancelled.
