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The GREAT CC Payoff Challenge!!

Valued Contributor

The GREAT CC Payoff Challenge!!

For those of you in the GC, You may have noticed I challenged another member to pay off 11k in CC debt before February of 2015.

 

The Stakes are changing.

 

I challenge EVERYONE that wishes to accept the challenge to Use this thread as a motivation to reduce your CC debt or Utilization.

 

Please do not include Mortgage or Auto Loans in this thread, as this is just for revolving accounts.

 

Please do include, creditor, current interest rate, total CL, amount owed, etc etc.  Any information you feel like sharing in regards to your credit card uti/balances.

 

For those that are more experienced, feel free to offer suggestions on easier ways or faster methods of paying down this debt.  Our ultimate goal is to see who can pay off the highest percentage of their personal CC debt before the end of the  year. 

 

I challenge you all to join in, and lets have some FUN motivating each other to reduce our UTI and Payoff our debt!!

OFFICIAL GARDEN START DATE: 10-05-2014... TARGET GARDEN END DATE: 06-01-2016 Lets Git 'r' dun
Message 1 of 559
558 REPLIES
Valued Contributor

Re: The GREAT CC Payoff Challenge!!

this is one challenge that I hope every one wins!

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Message 2 of 559
Valued Contributor

Re: The GREAT CC Payoff Challenge!!

And I will post first.  I know i have a LOT of work to do to get this looking good.  But by bearing my faults, I can and will grow stronger in my goals to be responsible with my CC usage!

 

 

 As of January 1, 2014:

 

 

 

#IssuerCredit CurrentAvailableCredit APRMonthly
  LimitBalanceCreditUtilized Interest
        
 Overall totals:$30,400$12,316$18,08440.5% $110
        
1-Capital One$1,000$966$3496.6%22.90%$18
2-Walmart$1,200$1,020$18085.0%22.90%$19
3-Sams$4,900$2,703$2,19755.2%22.90%$52
4-Carecredit$3,000$0$3,000 0.00% 
7-Dell$2,500$1,700$80068.0%0.00% 
9-Chase Freedom$4,800$4,753$4799.0%0.00% 
12-NFCU Signature Cash Rewards$5,000$543$4,45710.9%15.65%$7
13-NFCU Platinum Mastercard$5,000$0$5,000 16.99%$0
5-Lowes$3,000$631$2,36921.0%24.90%$13

 

       
       
       
       
       
       
       
       
       
       
      
OFFICIAL GARDEN START DATE: 10-05-2014... TARGET GARDEN END DATE: 06-01-2016 Lets Git 'r' dun
Message 3 of 559
Super Contributor

Re: The GREAT CC Payoff Challenge!!

I'm at 1% now can't go any further Smiley Sad

I'll be the odd ball in the thread  

I'm increasing to 2% to see if I get a scoring bumpSmiley Tongue

Before you app think...
Have you done your research of the CC?
Does it fit your spending?
Do you have a plan for the bonus w/o going into debt?
Can you afford the AF?
Do you know the cards benefits? Is it worth the HP?
Message 4 of 559
Valued Contributor

Re: The GREAT CC Payoff Challenge!!

Awesome idea! Keep me honest guys!  All 0% BTW

 

      Cards                             Balance             Due Date             Limit

 

AMEX BCE$3,177.6915th$6000
Barclay Lufthansa                     $6,051.70 19th$9000
OCCU $4,749.5021st$12000

Total                                 $13,978.89          

Goal August 2014 (Due date for first child!)    


   3/12 $3500     6/12 $1200      10/12 $1500   12/12 $3400    6/13 $12000      7/13 $5000      7/13 $2500       8/13 $2000    8/13 $6000

  | CSP (AU) $12,000 | Amex PRG (AU) | United $6,000 | OCCU $12,000 | Ink Bold | GM $3,200 | DCU $7500 | Luthansa $9000 | SPG $6,000 | Citi AA Executive $11,000 | Ink Plus $5,000                                                                         | EX 2/7 697 | EQ 10/27 721 | TU 12/15 719 |

Message 5 of 559
Valued Contributor

Re: The GREAT CC Payoff Challenge!!


wHiTeSoL wrote:

Awesome idea! Keep me honest guys!  All 0% BTW

 

      Cards                             Balance             Due Date             Limit

 

AMEX BCE$3,177.6915th$6000
Barclay Lufthansa                     $6,051.70 19th$9000
OCCU $4,749.5021st$12000

Total                                 $13,978.89          

Goal August 2014 (Due date for first child!)    


How exciting!! Congratulations!!

625 EQ FICO Current Score: 660 DCU EQ FICO/ 645 Scorewatch EQ FICO , EX FICO 664, TU FICO 737 (08/2014)
Goal Score: 700   Seedling again as of 07/29/14
Message 6 of 559
Regular Contributor

Re: The GREAT CC Payoff Challenge!!

So much debt.... scares me hahaha!

Message 7 of 559
Contributor

Re: The GREAT CC Payoff Challenge!!

This is painful to look at it but some progress down from 72% UTIL to 59% in the 30+ days I have been with MyFico..

 

Issuer                   Balance               Limit               UTIL             APR

 

PP/SMCT               $933                   $1000            93%            26.99%

 

Barclay/NFL           $310                   $500              62%            0% Currently until 1/2014

 

KOHLS                  $0                       $300              0%              21.9%

 

AMA/STORE         $0                       $600              0%              25.99%

 

SHELL                  $435                    $500              87%            24.99%

 

WALMART           $533                    $600              89%            23.9%

 

MERRICK            $1743                  $1900            91%            24.2%

 

FINGERHUT        $407                    $2100           19%            24.9

 

CHEVRON           $0                        $500             0%              ? Never used it no statements ever generated

 

CAP 1                  $330                    $500             66%            22.4%

 

KAY                     $0                        $1000           0%              18%

 

MILESTONE       $0                        $300             0%               23.9%

 

DISCOVER         $2900                  $3000           97%             0% For 13 more months

 

 

TOTALS             $7591                  $12800         59%

In garden as of 04-06-14 to 12/01/14

Starting score EQ MyFico 646 11/29/13 Current 691 EQ MyFico SW 04/03/14
Starting score EX MyFico 657 12/01/13 Current 686 EX MyFico 03/01/14
Starting score TU MyFico 627 12/02/13 Current 696 Barkclay 03/26/14
Message 8 of 559
New Contributor

Re: The GREAT CC Payoff Challenge!!

Count me in! I'll have to calculate my current util but I know it's in the 55-65% range. I lost my job and have had to pay bills with credit cards. But, I  refuse to let a minor setback keep me from maintaining the credit profile I've worked so hard to build.

 

Thanks OP for this timely challenge!

In order of approval...
Fico Scores: EX 677 (11/13) | EQ 684 (10/13) | TU98 708 (10/13)
Last App 3/2015 | Goals: Reduce util, obtain soft-pull CLIs and *maybe* a BT card to cut down on interest
Message 9 of 559
Valued Contributor

Re: The GREAT CC Payoff Challenge!!

@pembrokepride Awesome!.. Glad you have made progress!.. Lets keep working on this as a team, and support each other to continue to make progress!

 

@ everyone else:

 

Sometimes it takes the "painful to look at it" approach for us to correct something that may turn into a mistake.  I felt the same way looking at mine.  We are here through the good times and the bad... so lets rock it !!

OFFICIAL GARDEN START DATE: 10-05-2014... TARGET GARDEN END DATE: 06-01-2016 Lets Git 'r' dun
Message 10 of 559