My journey to zero balances

Anonymous · ‎02-24-2015

I'd like to use this thread to document my progress is paying down my disgusting amount of credit card debt. Is that acceptable?

Here's the starting point/current picture. The (AU) cards are my wifes cards that she had before we were married, but she's a homemaker now so they may as well all be mine.

Anonymous · ‎02-24-2015

Wow... I cringed when I saw that balance. But all I can say is great for you for making this first step and starting the paydown. What is your plan of action. Even payments across all cards? Smallest first?

Best of luck to you. Hopefully with the support from this awesome group of folks you will have it down in no time.

Looking forward to following your progress

Anonymous · ‎02-24-2015

I will be following... That is a huge amount. But congrats on taking the step to pay it down.. What is the plan?

Anonymous · ‎02-24-2015

@Anonymous wrote:
Wow... I cringed when I saw that balance. But all I can say is great for you for making this first step and starting the paydown. What is your plan of action. Even payments across all cards? Smallest first?

Best of luck to you. Hopefully with the support from this awesome group of folks you will have it down in no time.

Looking forward to following your progress

Thanks. I just paid off the two Slate cards this month, so I think my next step is to apply those minimum payments to one of the accounts with 27.99 percent interest. Another option is to pay off that Osterman Jewelers card that's at 570. That's $120 min payment I could be sending elsewhere.

Anonymous · ‎02-24-2015

OP - Are you paying down the AU accounts as well? I'm intrigued to follow your progress.

Anonymous · ‎02-24-2015

@MstrPTato wrote:
OP - Are you paying down the AU accounts as well? I'm intrigued to follow your progress.

I am curious as well. if OP is responsible, I'd pay the ones with the 27.99 APR first before tackling the lower ones...

Anonymous · ‎02-24-2015

@MstrPTato wrote:
OP - Are you paying down the AU accounts as well? I'm intrigued to follow your progress.

Yes, I edited the original post to indicate it as well, but the (AU) cards are my DW's from before we were married, but she gave up working after our daughter was born, so they may as well be mine.

ScarletFever · ‎02-24-2015

Good job getting started! Now, have at it and get rid of that debt!

.Citi FICO-836 Barclays TU FICO; 827. Discover Fic0-826; CK:EQ-821; TU-819; CS-819; Total credit-$165,500: NASA-29,700; AMEX BCP-17,000; AMEX EDP-20,000; CSP-14,400; Barclay Ring-10,000; Discover It-9,000; U.S.Bank Sig Visa13,000; United TeleTech Federal Credit Union-$9000; Citi Double Cash-9900; Citi TYP-7,700; Discover Cashback Bonus-7,200;Chase Freedom-6,500; AMEX HHilton Honors-5000; Barclay NFL Extra Points-$5000. Utility always 1-2%

Anonymous · ‎02-24-2015

Gotcha...missed it the first time around. Do you have a goal date out of curiosity?

Anonymous · ‎02-24-2015

Anyone have any thoughts on if it'd be worthwhile to attempt to consolidate some of this on to the 16.99 GoldOption Loan? I don't even know if BoA will let me use that line or not. It shows as open on my CR but I thought I remembered them telling me it was inactive/unusable.