Hiatus over; 2 new sources of credit opened

June 28, 2010 at 6:02 pm (blog housekeeping, credit cards) ()

Back finally from a 2 month blog hiatus! Still on track, just a little slower as I have dealt with a few setbacks and J’s continuing unemployment. I’ll have some upcoming posts outlining what’s been happening, but for now, I’m going to discuss my changes in my balances and current debt balance. I’ve paid off $12,00 in the last 2 months. Not horrible, but not ideal either.

All my zero percent credit card offers have now expired, so I moved everything to existing accounts and opened a few new ones that I plan on keeping and using in the coming years as my primary credit card/bank loans. However, in preparation of both both US Bank and Discover jumping from 0 to between 12-13%, I opted to get a really low 6.9% card with my credit union, BECU. I will be using this as my primary credit card to replace Citibank (which will be closing by next year due to opting out of a previous interest hike). The BECU card will also be exceptionally easy to pay off!

I transferred my remaining balance from the US Bank card to both my line of credit and credit card with BECU. As the line of credit is at 8.9% and the credit card is at 6.9%, I am going to focus 100% on the line of credit until it is paid down, then the credit card, and finally, the SBA loan which is at a  measely 5% interest rate.

I decided not to try for any more 0% interest rate cards. It could potentially save me up to $100-$150 by opening one, but I’m tired of juggling them all and I want to simplify my payments. I’ve moved all my bills to online payments, including rent to my landlord! Now with all my debts within my 2 banks, BECU and Wells Fargo (which I no longer actively use), it’s all much easier to manage.  By early 2011 I expect to only have the SBA loan left to pay.

I have reorganized my debt stat bars on the right to reflect what is paid in full, and which credit lines I have debt to pay.

So! I’m back from zombie blog land. More to come (and improved news too). Stay tuned!

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