credit card finally paid off!!!!

YESSS!! as of this weekend, my credit card is paid off. After 4 long years of paying it off slowly, putting money back on it, paying it off etc. its finally paid off..My other one is getting paid off on friday, then i just owe on the bike


Feels SOOO good

 

feels good dont it???? we paid ours off,both of them, a few months ago. we put some money back on them redoing our condo, but we are about to pay that off again too.

 

NICE!!! It's a great feeling to slay some debt...I'm about to put money back on my card tho....OPPS...3 inches on all 4 corners is worth it tho!!!

 

I know the feeling..I had about $100 on my one card, then I went out and bought my bow with some accessories

O well..$400 more and im good

 

LOL....Yeah...My wife and I are paying our cars off pretty quickly...and the credit card is going down...so I have to give myself a gift now and then.....=)

Plus we just refi'd the truck a full point and change lower...=)

 

Congrats.

 

the way the economey is going, alot of people I talk to saying there paying off the CC debt faster then usual. One guy i work with, took about 30K out of his profit sharing, and paid off his house, credit card and paid for his daughters wedding. Smart idea

 

GOOD JOB MAN!!!!


October we will have zero credit card debt.

 

Congrats... but the important question is: What are you going to do w/ it now that it's paid off?

If you don't cut it up and toss it, you could end up in the same situation. (I would suggest closing the account, too, but I know how some people get in a tizzy about their precious credit score if you close cards and I don't want to derail the thread w/ a debate over credit scores.)

Great job again, buddy! Such a weight off the shoulders, huh?

 

Talking about paying things off early and what not. I financed my truck through South East Toyota Finance and they won't let me make extra payments straight to the Principal. Any amount I pay extra sits in a credit that doesn't do anything for me unless I miss a payment. I called to ask if there was a way to make payments to the principal and they basically lied to me saying that it was going to the principal. I had intended on refinancing but not this soon. I guess I will be saving all my extra payments now for when I refinance.

 

Put your extra payments in a "high yield" savings account. I know, 2% is not high yeild, but it is better than a regular savings account. Then when you have enough to re-fi, go for it.

 

Doesn't it feel good to pay a credit card off? I just paid close to $15k on a credit card last month, another $1,500 and I'm free and clear... If it wasn't for the up coming HI trip I'd be paid off now....

 

I hate loans that don't allow you to pay early on prin or that have an early payment penalty. Now that you know, next time you get a car tell them you'll walk out the door if they don't take that clause out of the loan contract.

I'd like to say that I pay cash for each car I buy, but it's not entirely true. I get the longest possible term (lowest payment) for the part I can't pay with cash and pay all I can afford each month until it's gone. The loan on my truck was completely paid off in 4 months... and I paid several hundred more than "required" each month to make it happen.

 

Congrats man! Thats a good feeling!

 

Yeah....I look REAL close at the early payment clause/penalties...Luckily, I know my bank (USAA) will usually do pretty well by me. Paying lots extra is a good thing too..Helped me out a ton...and it's going to get my bike title in my hands in the next 8 months or so...

 

im thinking im going to take the spare cash and throw it towards the loan for the bike and get that paid off quicker then i had planned, or I may save up like 1K and open a high intrest cd or something

 

Not that you asked, but don't throw $1k into a CD if you could put it on some consumer debt. I don't know the rate you're paying on the bike, but if the loan is at 7% and you get a CD for 4.5%, you're still losing money in the end. Throw the extra at the debt until it's gone.

Paying off debt is like investing at the rate of the debt paid off.

 

its an intrest free loan
thanks for the input thou

and i made the last payment on my CC this morning

 

Man that's the best ! Good for you.

 

Wish mine was paid off! LoL I just racked mine up with the lift and tires! Not to mention it already had too much on it! HAHA. Now I understand why I have a low interest rate! Now I need to call USAA and get my damn 6.9% back, they racked it up to 8% for no reason.