Credit Card Challenge-February

**Shell** · 02-01-2003, 09:27 AM

Can you believe it is February already? How did everyone do last month? I am thrilled how well I did. I put any extra money I had right onto my credit cards and didn't use my credit cards at all. I have now paid off two credit cards and have one big one to go.

I find posting my progress on here very helpful. It reminds me where I was and to keep plugging along until my credit cards are all paid off.

My plan is to take $250.00 off of each cheque this month and put it directly onto my last credit card.

That would mean I am paying $500.00 on my card this month. So what are you planning on doing this month with your credit cards?

**halo475** · 02-01-2003, 10:03 AM

Even though I pay mine off every month, February's bill is going to be well over $800.00. That is about 4x my comfort level. I usually only have about 200.00 per month on mine. I have been shopping way too much online!!

So my goal for Feb. is to NOT order anything online (with the exception of one thing that I have to get online and its only about 25.00-planned expense)

**justjenn** · 02-01-2003, 01:02 PM

We paid off one of loans last month that was $60, so we are going to use that money to pay on our Chase credit card. The minimum is like $15, so we'll be paying $75. We are also going to use any money we have left over, and apply that to other cc bills.

Good Luck everyone!

**PennyPinchinPam** · 02-01-2003, 01:20 PM

In February I am going to pull our credit reports and make sure all the info reported is correct and if it isn't I'm going to take the time to write up dispute letters. Then to improve our overall credit score we will be closing all but 3 of the accounts we just paid off. All of the books I've read say 3 active accounts on your credit report is best. So that's what we're going with.

**lucy979** · 02-02-2003, 05:02 AM

I am going to keep paying and when we get our tax refund we are going to pay off one and hopefully another. Not sure how much we are getting back yet.

**Shell** · 02-05-2003, 11:39 PM

Well, someone paid me back $100 and I rolled $27 in coins tonight so I am going to put it all on my cc's tomorrow. Every little bit helps. It is slowly getting down there. I get paid in about 10 days so I am going to put $250 on it as well. It is great to see it going down, down, down. This challenge really helps me to keep focused on my goal.

**PennyPinchinPam** · 02-06-2003, 12:03 AM

WTG Shell!

**Shell** · 02-06-2003, 12:07 AM

Thank you. Thank you. LOL.

**babynurse** · 02-06-2003, 04:57 PM

I just paid off a line of credit I used to pay off my car...it was 7500 and I just put the last $700 on it yesterday and it is paid... now I just don't know whether to close it or keep it for emergencies(I qualified for it when I was working full time, now I am part time. If I needed another loan, I might not qualify, so I may keep it (lower interest rate than a credit card). I have 150 on a store card, will close when I pay that off next paycheck. Also have $250 on my mastercard (from the move: rental van and big grocery trip) will keep that one for emergencies also. All that's left is my student loan, but I am not going to pay extra on that, instead I am concentrating on building up my emergency savings and RRSP's! I think I am in okay shape considering I work part time!

**PennyPinchinPam** · 02-06-2003, 06:04 PM

WTG Theresa!!

I'd keep it open as it helps your credit score if you were in good standing.

**Shell** · 02-09-2003, 12:02 AM

So, how long does everyone think it will take them to pay off their credit card? Are you looking at a year? A few months? Just curious. Mine depends on how big or small my tax refund is.

**Shell** · 02-12-2003, 01:12 AM

I was wondering, how many cc's does everyone owe on? I owe on one more which I am working on. Are you starting to feel that your cc's are more in control now or do you still feel overwhelmed?
Are you planning on cutting up or freezing some of your cards?

**Shell** · 02-13-2003, 06:29 AM

I went to the bank yesterday and put another $200 on my cc. I think that is all I can handle until the end of the month. What has everyone else put down so far for Feb?

**CAGmomof2** · 02-15-2003, 10:28 AM

We have 5 more credit cards to pay off... plus two medical bills....
We have applied the snowball affect to the creditcards and now one credit card bill is paid off for good.
Now I am going to keep applying the snowball affect(or principal) to the next credit card and so on till they are all paid off and then I will apply the money that we save towards paying off our mortgage and medical bills.