Wish me LUCK! Massive paydown just happened....

[pi-r-squared]

Got a hold of $40K from a settlement and used most of it to pay down 2 Capital One credit cards that had HIGH UTIL...

Venture was $32K of $33K limit.  I paid $31.5K on it.  The other was QS having $8.5K of $10K limit and I paid $4.2K.

Crossing my fingers very tightly hoping for absolutely no AA, no balance chasing, no CLD......  

Wish me LUCK!!!

[Anonymous]

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@pi-r-squared wrote:

Got a hold of $40K from a settlement and used most of it to pay down 2 Capital One credit cards that had HIGH UTIL...

Venture was $32K of $33K limit.  I paid $31.5K on it.  The other was QS having $8.5K of $10K limit and I paid $4.2K.

Crossing my fingers very tightly hoping for absolutely no AA, no balance chasing, no CLD......  

Wish me LUCK!!!

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Well, even if there is AA, you are still in a much better shape after getting rid of all that interest cost!

[Kforce]

Good Luck

[FinStar]

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@Anonymous wrote:

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@pi-r-squared wrote:

Got a hold of $40K from a settlement and used most of it to pay down 2 Capital One credit cards that had HIGH UTIL...

Venture was $32K of $33K limit.  I paid $31.5K on it.  The other was QS having $8.5K of $10K limit and I paid $4.2K.

Crossing my fingers very tightly hoping for absolutely no AA, no balance chasing, no CLD......  

Wish me LUCK!!!

---

Well, even if there is AA, you are still in a much better shape after getting rid of all that interest cost!

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This ^^^

[Taurus22]

Debt sux......just think about all that weight that's off your shoulders now. Good for you!

[ChargedUp]

If they weren't maxed out for too long and never had any derogatories, you'll likely be ok. Cap One tends to be one of the more tolerant lenders out there when it comes to high utilization on their cards. 

[pi-r-squared]

Both cards have been close to max for a long time.  Was able to pay down the 33K card to 27K but it creeped back up. Never had balance chase even when that happened.

[Yankee2]

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@pi-r-squared wrote:

Got a hold of $40K from a settlement and used most of it to pay down 2 Capital One credit cards that had HIGH UTIL...

Venture was $32K of $33K limit.  I paid $31.5K on it.  The other was QS having $8.5K of $10K limit and I paid $4.2K.

Crossing my fingers very tightly hoping for absolutely no AA, no balance chasing, no CLD......  

Wish me LUCK!!!

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Good for you! 

As others have stated, regardless of AA it's HUGE to pay off that kind of debt...

I was able to pay everthing off a couple of years ago and I'm completely debt free and I can say it's the best thing I've ever done.

[AverageJoesCredit]

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@pi-r-squared wrote:

Both cards have been close to max for a long time.  Was able to pay down the 33K card to 27K but it creeped back up. Never had balance chase even when that happened.

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Show this post to those who bash Cap One lol.  To be able to continue to use even after accruing 27k  and not be AAd is a keeper lender in my book. I dont like C1 but would definitely  if that happened. Currently in that boat with Navy

[Loquat]

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@FinStar wrote:

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@Anonymous wrote:

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@pi-r-squared wrote:

Got a hold of $40K from a settlement and used most of it to pay down 2 Capital One credit cards that had HIGH UTIL...

Venture was $32K of $33K limit.  I paid $31.5K on it.  The other was QS having $8.5K of $10K limit and I paid $4.2K.

Crossing my fingers very tightly hoping for absolutely no AA, no balance chasing, no CLD......  

Wish me LUCK!!!

---

Well, even if there is AA, you are still in a much better shape after getting rid of all that interest cost!

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This ^^^

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I agree with @FinStar while I hope it doesn't happen, even if there was some sort of AA action that came from this, I'm sure you'll still sleep soo much better not having that debt weighing on you.  Congrats on the pay down and hopefully with the pay down came a lot of stress relief.