No. of Recommendations: 4
I first posted with the rough details of our debt in early March.  Since then, we have made slow, but steady progress.  DH is starting a new job in 2 weeks, which has the potential for more advancement and a larger salary.  Thanks to everyone's advice here, we were able to cut out some expenses and have been diligently paying down our credit card debts.  I also put in a complaint to MBNA about their raising my interest rate, and whaddayaknow?  It's back to where it started.  I was also lucky enough to get a balance transfer offer from Chase for 3.9% for the life of the loan and another balance transfer offer from Discover for 5.99%.  Here are the details of our progress:

December 31, 2002:

Citibank	5,914.17
Discovercard	7,304.67
First USA	3,390.45
MBNA	       15,081.84
Chase	        5,699.49
Total	      $37,390.62

May 30, 2003:

Citibank	2,000.00
Discovercard   11,603.41
First USA	3,100.00
MBNA	8,900.00
Chase	5,899.05
Total		$31,502.46

Total paid off to date:  $5,888.16

The E-fund (non-existant at 12/31/02) now stands at $250 and is eagerly awaiting the child tax refund credit (another $400).

Our plan of attack at this point it to pay off Citibank ($2,000) in hopes of getting a balance transfer offer.  Then we will be building the E-fund a bit.  Then I have MBNA back in my sights (still the highest interest rate).

Questions?  Comments?  Suggestions?

Thanks for reading, everyone!
Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.