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Personal Finances / Credit Cards and Consumer Debt


Subject:  out of debt (almost!) Date:  1/4/2001  10:24 PM
Author:  nomorecards Number:  53149 of 312185

Hello Fellow Fools!

I have been reading this board for about a month or so,
and thought I would share with you. As many of you know
there is NO greater feeling than paying off debt!

My wife and I have been taking advantage of the card offers that came to our house each month 2.99% for 6 months transferring balance after balance to this rate. at the end of 6 months another offer would appear
and we would transfer the remainder of the 2.99% rate
and got a rate for 1.99% for 6 months ALL in ALL we paid down $10,000 worth of debt within a 12 month period All the time keeping only 2 cards active closing various other accounts, because having to many lines of credit open can be just as damaging when you apply for say a mortgage. I now HAVE 0 credit card debt I made my last payment in DEC. This year (Jan 01)
I am now working to pay off my home as I write this
I owe exactly $26521.68 I have a 30 year fixed rate of
5.25% I figure I can pay off my house in 35 more months. we are committed to being debt free. I'll let
you fools know how I do in a future update.
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