Credit Card Victim

$40,000+ to go, how long will it take

Useful Links

  • Online Credit Card
  • 0% APR Credit Card
  • Currency Conversion

Blog Search

Calendar

July 2005
M T W T F S S
« Jun   Aug »
 123
45678910
11121314151617
18192021222324
25262728293031

Recent Posts

  • How Much Am I Paying ?
  • Status Report
  • I’m back
  • Moving House
  • I’ve dropped the ball
  • Where’s the update ?
  • Money Came Through
  • I’ve sold my Shares
  • I’v got a pay rise….. and a tax cut
  • Procrastination Pays Off
« I’m A Broken Man
I’ve Been A Bad Bad Boy »

10

Jul

I’ve Lost Motivation

Ted 

I’ve been using my credit card with abandon for general purchases (groceries, grog, restaurants etc), I’ve got more cash than I need in the bank but I’m too lazy to check my balance and work out how much I can afford to transfer to my credit card debt.

I know I need to get focussed on paying down my credit card debt, but as I now have permanent employment I can probably get a personal loan and pay it off over 5 years at around $200 a fortnight.

I need to look into it a bit more though and see if my probationary status will effect my application, otherwise a declined loan goes as a negative tick against my credit report.

I think what I’ll probably do is get a consolidation loan for the two credit cards I’ve used for business expenses, that way I can keep seperate the interest that is tax deductable.

Atleast with the personal loan the interest rate is around 10.99% as opposed to the 18% I’m paying now, and for the 5 year term of the loan the interest saving is around $4000.

Then all I’ll have to do is pay down the $4-5000 that is on the credit card I have for personal use.

Well that’s todays plan, I’ll see what happens to with my credit cards tomorrow.

This entry was posted on Sunday, July 10th, 2005 at 12:29 pm and is filed under The Journey. You can follow any responses to this entry through the RSS 2.0 feed. You can leave a response, or trackback from your own site.

Leave a Reply

Trackback URI | Comments RSS

Login

  • Register
  • Login
  • Valid XHTML
  • XFN
  • WordPress

Categories

  • Credit Card News
  • Humour
  • Limit Increase Offers
  • Off Topic
  • Payments
  • Purchases
  • Status Report
  • Strategies
  • The Journey

Blogroll

  • Budgeting Babe
  • Consumerism Commentary
  • Credit Card Penalties, Fees Bury Debtors
  • Defying Debt
  • Do Cook
  • Financial Freedom Trek
  • Frugal For Life
  • Irregular Payments
  • Kate Spills The Beans
  • My Money Blog
  • No Credit Needed
  • Pay Off Calculator
  • Personal Finance For The New Age
  • Savvy Saver
  • Simplify My Life
  • Wealth Junkie

Progress Chart

Privacy Policy

Design & Support From Anthony Ifon
Wordpress Theme powered by newpbc-design