Picking the CC to Pay Off
Results 1 to 5 of 5
  1. #1
    Registered User Nada.Leona's Avatar
    Join Date
    Sep 2004
    Location
    Halifax, NS
    Posts
    3,760
    Post Thanks / WTG / Hug
    Blog Entries
    14
    Rep Power
    23

    Default Picking the CC to Pay Off

    If you look at my signature, you'll see we have several CC's on the go right now. Well, DH and I have our honeymoon coming up in November, and our plan is to go to Texas and Louisiana. His aunt is using her Aeroplan points to get us car rental passes, and his parents are using their Air Miles to get us our flights there and back. However, we're using our Air Miles and money to pay for our hotels and for our food and shopping.

    Well, we decided to clear out one of our credit cards and use that for the trip. DH had originally suggested we pay of the Amex, which is over $2000, and use that. Which would give us $2400 to use during our trip.

    I got to thinking last week -- why don't we pay off both Visa's? For one thing, it would be cheaper, since our Visa's are each under $600, and in total they're $1000 each, so we'd only be losing $400 compared to the Amex.

    So we discussed it and he agreed with me. So we're going to try to clear our Visa's over the next couple of weeks and use those for the trip. Then we'll start bombarding our debt once we're back. We'd like to have the majority of the CCs cleared before the baby comes in June.

  2. #2
    Registered User Greebo's Avatar
    Join Date
    May 2008
    Location
    Baltimore, Maryland
    Age
    51
    Posts
    8,566
    Post Thanks / WTG / Hug
    Rep Power
    83

    Default

    If you have enough cash to pay off AMEX you have at least $2,200 cash, right?

    My suggestion would be to pay off the two smallest cards for $1,120, use them, limit your spending to $1,120, and then pay them off again after you get back.

    That way you get your miles AND eliminate $1,100 of consumer debt.

    I know you're all caught up in the joy of your new marriage and honeymoon, but if you don't get your spending under control and get rid of your debt, you'll be laying a very poor foundation for your future family finances.

    Besides - you'll be on your honeymoon - your happiness should come from each other, not spending money, right?

  3. #3
    Registered User savvy_sniper's Avatar
    Join Date
    Apr 2009
    Location
    Houston Texas
    Age
    65
    Posts
    2,402
    Post Thanks / WTG / Hug
    Rep Power
    25

    Default

    Greebo said it well! I was going to say, if you can't pay cash then you shouldn't go. I know it is your honeymoon and all, BUT you should never CHARGE vacations (I include honeymoons in that).

    I know that sounds harsh. But after looking at your debt in your signature and the fact that you have a baby coming, I feel you should REALLY tighten the reins on your spending.

    JMO

    Mary

  4. Remove Advertisements
    FrugalVillage.com
    Advertisements
     

  5. #4
    Registered User MaryCarney's Avatar
    Join Date
    Apr 2009
    Location
    Lebanon, Indiana
    Posts
    1,743
    Post Thanks / WTG / Hug
    Blog Entries
    7
    Rep Power
    26

    Default

    Ditto Greebo and savvysniper. I'd make it a project to see how much $$ I could return from the trip with.

  6. #5
    McD
    McD is offline
    Technical Support Sleuth McD's Avatar
    Join Date
    Feb 2006
    Age
    35
    Posts
    6,481
    Post Thanks / WTG / Hug
    Blog Entries
    16
    Rep Power
    48

    Default

    Something to consider, in addition to the financial aspect, is the timing of the honeymoon in regards to your pregnancy. Depending on how your body reacts to all the changes, you may not be in any condition to do much of anything, especially fly. Just something else to consider.

Similar Threads

  1. free for the picking
    By marlas1too in forum OAMC, Homecanning, Freezing, and Preserving
    Replies: 12
    Last Post: 06-30-2010, 02:43 AM
  2. Picking up where I left off
    By mikandmari in forum Frugal Living
    Replies: 10
    Last Post: 06-05-2007, 11:16 PM
  3. Pecan Picking......
    By SSGWilkesWife in forum Homesteading and gardening
    Replies: 5
    Last Post: 12-02-2005, 04:17 PM

Tags for this Thread

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •