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Old 03-06-2008, 10:37 AM   #1
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Default Credit Card Paid Off!

Well, I usually dont talk about finances to other people But we paid of our Credit card today and I am really happy! We had about 6g'* on it in December. The reason we had that was because I own a business and we needed to get a few things rolling and had to buy a bunch of equipment. We needed to spend money to make money, well anyways its been working out for us we had about 14 weddings (12 now because we already shot a few and got paid for them) and with their $500 deposits we managed to pay our Credit Card off. We make really good money as it is without the business, but the business funds and the Marine Corps GI bills (my wife was/is a Marine, which is $2500 tax free monthly) for the next 2 1/2 years we have been blessed!
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Old 03-06-2008, 10:47 AM   #2
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Excellent work Vince, its a very liberating feeling!

I've got to much debt and its totally gettin me down. Now I've got this stupid car and I'm payin for that too
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Old 03-06-2008, 10:48 AM   #3
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Congrats on paying that off! It'* an excellent feeling that'* difficult to describe.
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Old 03-06-2008, 11:24 AM   #4
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I had one credit card in my life so far. Never again

I went into it basically thinking of it as a loan. I just kept making the minimum payments and the debt kept getting bigger! When I sold my lumina I decided to throw all that cash at the cc company. Debt free ever since. (except for school loans )
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Old 03-06-2008, 12:40 PM   #5
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Quote:
Originally Posted by harofreak00
I had one credit card in my life so far. Never again
x100000000, but I bet you didn't have my crazy interest rate...

23.9%

But don't worry! Because I'm consolidating that and my bill me later account into my car payment since I got that down to a reasonable 7.25%
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Old 03-06-2008, 01:02 PM   #6
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WTG !!!
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Old 03-06-2008, 01:51 PM   #7
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Quote:
Originally Posted by petraman
Quote:
Originally Posted by harofreak00
I had one credit card in my life so far. Never again
x100000000, but I bet you didn't have my crazy interest rate...

23.9%

But don't worry! Because I'm consolidating that and my bill me later account into my car payment since I got that down to a reasonable 7.25%
My Mastercard was only 10.9% which isnt to bad. I will keep using it but I will use it then pay it off the next day.
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Old 03-06-2008, 01:55 PM   #8
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Congrats Vince. I paid mine of a couple years ago, but then got one a few months back to helpmanage expenses when our family was short on liquid assets. Unfortunety I also have a 401k loan, house payment, and a car payment. Personally my financials are looking like they will go back in an upswing in the near future and I can get these paid off, at which time I won't take out another loan unless absolutely necissaty. There is something to be said about being debt free, especially in this financial market right now.

Congrats again on your new found freedom!
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Old 03-06-2008, 02:00 PM   #9
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I try to pay my cards off within the first month which is tough when you rack up $3000 in CC bills each month.
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Old 03-06-2008, 02:10 PM   #10
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If I need to use one for something I can't pay off the next month, I get a new one with 1 year , no interest, then pay it off before then.
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