What am I doing ?

Last time I looked my credit card balances were as follows (approximately):

On the good news front I sold one of my domain names for $1200, which I immediately split between an overdrawn gold visa and my standard visa credit card which had been getting some use since the gold credit card was out of action.

I know I’ve been talking about it for a while but within the next two weeks I’m going apply for a personal loan to take care of Gold Visa Two and the Standard Visa. The reason that I’m only taking a loan for two of the three credit cards is that they contain business expenses which are tax deductable so I need to keep the interest amounts seperate.

My plan then is to reduce the credit limit for gold visa two and to close the standard visa credit card account. I still need a credit card for my business expenses but I intend to pay the full balance at the end of of every month.

Which reminds me that in the last month I’ve recieved a credit limit increase offer from $15,000 to 19,000 for Gold Visa two, which I declined, and also an offer to upgrade to platinum, which I also through in the bin. I can remember the days when anytime I got a credit limit increase offer I would accept it without hesitation, just incase I needed it.

As for Gold Visa One, once the personal loan is settled I’m going to try and transfer that to a low interest credit card, hopefully that will be around the same interest rate as the personal loan.

I have a few extra dollars in the bank which I’ll be transferring to my credit cards soon, and as an added bonus I’m taking a short road trip for work next week which will pay me some travel allowance of which I am anticipating I can use about half to pay off the credit cards.

I’ve also started work on a couple of websites that I hope will bring in some extra money over time. This means I’ll be spending more time on the computer, which means I might post more often, but hopefully what it really means is that I’ll pay off the credit cards a lot sooner !