secondly, in response to your recent post (which is locked): Cut up the card, but don't close the account... A big factor in your credit score is length of history, meaning having an open credit card with $0 balance for years is much better for the credit score than having a closed account.
I'm in the process of paying off all my cards as well and just recently got 1 (of 2) down to zero.. its an awesome feeling = )
thanks for the congrats and credit card tip. i didn't know keeping the card open with $0 on it is good for your credit score.
i have another card where i'm slowly working down the balance. i pay the same amount every month and i know that it'll be paid off by august. 2 months before the "promotional balance" ends. after that, if i didn't pay off the card, i'd have to pay tons of $$$ in deferred interest. yuck.
damn xmas bonus went all to the credit card. there was just a few extra hundred left for xmas shopping and more bills.
but damn it feels good to have that one credit card paid off. i need to start saving money for a wedding! i don't need to be newly married and waist-high in debt.
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(not on LJ as much so i miss a lot)
secondly, in response to your recent post (which is locked): Cut up the card, but don't close the account... A big factor in your credit score is length of history, meaning having an open credit card with $0 balance for years is much better for the credit score than having a closed account.
I'm in the process of paying off all my cards as well and just recently got 1 (of 2) down to zero.. its an awesome feeling = )
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i have another card where i'm slowly working down the balance. i pay the same amount every month and i know that it'll be paid off by august. 2 months before the "promotional balance" ends. after that, if i didn't pay off the card, i'd have to pay tons of $$$ in deferred interest. yuck.
damn xmas bonus went all to the credit card. there was just a few extra hundred left for xmas shopping and more bills.
but damn it feels good to have that one credit card paid off. i need to start saving money for a wedding! i don't need to be newly married and waist-high in debt.
Reply
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