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| COMPLETELY off-topic Talk about anything other than cars. But you can't be mad and angry in this forum! |
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#1
04-08-2006, 01:05 AM
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Yee Haa!!!!!
Today I had a little party at my house. There was no drinking or loud music. No illegal activities and no large group of people. What kind of party is that you ask??? A credit card cutting party. I was approved for a loan that covered my cards and the monthly payment is less per month than I was paying on the cards plus they will all be payed off in 5 years. Most of the cards i've had for that long or longer and haven't used in a couple of years. The balance never seemed to go down. Now they are all payed off, cut up, burned and the ashes burried in the yard. Kind of a stupid thread I know, but I was just so damn happy I had to share.
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2003 Honda Element EX 2002 Kia Spectra (can't "Improve" or wife will kill me) 1986 Dodge Ramcharger (For sale with a 1966 Rambler 660 classic to boot)  " Idon't know how many of them it would've taken to whoop my ass, but I knew how many they were gonna use. Thats a handy little piece of information to have right there." "Ron White" http://www.myspace.com/officer_redneck 
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#2
04-08-2006, 04:22 AM
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Re: Yee Haa!!!!!
Congratulations. Unfortunate other don't follow suit.
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1989 240SX Fastback. . . . . . . . . . . . . . . . . . . . . . . . . . . 1995 300ZX Twin Turbo  Warning: Objects in mirror aren't as fast as they thought they were.
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#3
04-08-2006, 09:57 AM
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Re: Yee Haa!!!!!
Nice feeling getting your finances sorted man. Congrats.
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#5
04-08-2006, 10:39 AM
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Re: Yee Haa!!!!!
So you consolidated your credit card debt into one payment....I see TV ads about companies that do that for you, what's the actual interest rate?
In the long term, are you really saving money? Reason I am asking is often people think a low monthly payment over longer saves them money and in fact it costs you more.
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#6
04-08-2006, 12:14 PM
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Re: Yee Haa!!!!!
Thanks for the congrats. I had been spending about $350.00 a month in credit card payments for the last several years and had noticed very little drop in the amount owed. The loan I got is a $296.00 a month payment at 18.5% intrest rate and in 5 years, I will have payed it off. I'll prob pay it off sooner cause in a year and a half my wifes car is payed off and i'll start sennding them double payments. The rate is kinda high I know, but it's an unsecured loan meaning the needed no collateral.
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2003 Honda Element EX 2002 Kia Spectra (can't "Improve" or wife will kill me) 1986 Dodge Ramcharger (For sale with a 1966 Rambler 660 classic to boot) " Idon't know how many of them it would've taken to whoop my ass, but I knew how many they were gonna use. Thats a handy little piece of information to have right there." "Ron White" http://www.myspace.com/officer_redneck
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#7
04-08-2006, 04:41 PM
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Re: Yee Haa!!!!!
yeah, the rate a bit high, but I hear ya re unsecured, that puts you into a bit more risk.
And, NOT meaning to rain on your parade, but couldn't you have found a better consolidation % rate?
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#8
04-08-2006, 07:34 PM
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Re: Yee Haa!!!!!
The way I got rid of mine was to open a new account, transfer balances with the low rate, cancel the other cards, payoff the new card while I still had the low rate, the cancel that one too. The only card I carry now is a citibank card, it has a high enough limit to get me out of a jam and then some.
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Rusting out Honda Civic $900 Fart cannon muffler: $300 Assorted stickers advertising products you'll never own: $50 Having your @ss handed to you by a brick shaped suv: Priceless. Yup, I own the suv.
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