My last credit debt update was July 4th 2015, so in that post I had written about freezing my one big credit card literally well it didn’t last long and I had given it to my mother to hold on to it for me. Sadly I had used it like twice before giving it to her. I told her to hide the card from me because I didn’t want to know where it was. If you can’t see it and don’t know where it is then it’s hard to use it. Good news is it’s so very slowly coming down. It’s not any where near where my other credit card is but it’s slowly coming down.
Now the small credit card I have and I say small because it has a lower credit limit is on its way out sooner than later. I can happily say it’s almost paid off I only owe like $350 left on it to pay. From originally $1500. I will most likely jump for joy when it says $0 and then I’ll be calling the company to say thanks but no thanks and I’m canceling the card.
Then I only have the big card to pay off. Slowly but surely they will all be paid and I will never get back into credit debt again. Because the new plan is to then get a much lower credit card or even have the big credit cards limit reduced by 80%. So it’s a much more manageable amount so I can still have credit but have it be more easy to pay. I think having credit is a good thing but I think you have to be realistic with how much you have and how much you can handle.
Of course these credit card company’s don’t care as long as you have to pay them. And the more debt you get into with them the happier they are. Because you have to keep giving them money. And the bigger credit you owe the longer it takes to pay it off the happier they are. So by paying more than the monthly amount is the better it is and the quicker you see the amount lower and see your debt go away. Nothing is more gratifying then seeing that debt number go down.
Cya Credit Debt