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Recommendations: 1
Sorry about that! Let's try this again.
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!
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