Posted on Monday, 18th February 2008 by R.J.
As I previously mentioned, we were going to use our tax refunds to help pay down our credit card debt. And today, we have paid off two of them in their entirety! Yay us! We no longer have to worry about making payments to Wal-mart or PremierBank.
I would have paid off a third, but the interest is at zero percent and will be mostly paid off by making the minimum payment in March, anyway.
As you can tell from the graphs, there’s still a long way to go. My next goal is to get my Capital One card paid off. It currently has an interest rate of 19.55% which is the highest card we have.
I also kicked a few extra dollars into the E-Fund.
Tags: capital one, citi-card, citicard, Credit Cards, Debt, debt reduction, first premier, paying down credit cards, paying off credit cards, paying off debt, wal-mart, walmart
Posted in Debt | Comments (3)
February 19th, 2008 at 7:20 am
[…] In Debt Blogger paid off two credit cards! […]
February 19th, 2008 at 10:02 am
Congrats to you guys! Once you start paying off debt, you get more focus to pay off the bigger creditors!
February 19th, 2008 at 3:25 pm
Thanks moneymonk! That’s exactly what we’re planning on doing - taking the payments we were making on these and applying them as extra payments on the other cards. Two less bills to worry about and more money to pay down the remaining bills… it’s win-win.