Author Topic: One Credit Card: DESTROYED  (Read 2228 times)

jhlp

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One Credit Card: DESTROYED
« on: December 10, 2014, 03:38:22 PM »
Hi Mustachians!

I was doodling around in my accounts today and realized I had just enough in my checking account to completely pay off one of my two credit cards, in one fell swoop, with no fees or overdraft or anything like that-- a month ahead of when I was planning to. I just did it and I feel like a rock star. Now I only have one card left to focus on until my credit card debt is completely gone.

I have to say that the turning point for me was totally mental-- getting to think of my debt as a true emergency rather than something I'm working on. Really exciting and fun to pay off.

Another really good thing: paying it off right before Christmas is going to hammer in a frugal mindset for the holiday (don't want to mess up what I've just achieved)!

lizzzi

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Re: One Credit Card: DESTROYED
« Reply #1 on: December 10, 2014, 04:17:42 PM »
Excellent! Congratulations.

mochila

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Re: One Credit Card: DESTROYED
« Reply #2 on: December 10, 2014, 04:42:10 PM »
Yes, congratulations! Being debt free will feel amazing.

Sibley

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Re: One Credit Card: DESTROYED
« Reply #3 on: December 12, 2014, 11:33:13 AM »
Congrats! I'm about a year away, so love the encouragement to see others do it.

gaspony

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Re: One Credit Card: DESTROYED
« Reply #4 on: December 12, 2014, 11:55:30 AM »
It is hard to put a value on paying off debt. Credit cards especially. Getting rid of credit card and Student loan debt was the most freeing feeling.  Nice Job!

Bob W

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Re: One Credit Card: DESTROYED
« Reply #5 on: December 12, 2014, 12:03:29 PM »
You rock it!   Be sure to keep the card active.   Sometime in the not too distant future with patience and perseverance you can start playing the card game in reverse!

Some people here net 10K per year doing the points and cash rewards game.   I know that isn't your primary thought today.  Just wanted to remind you that open cards and the length they are open adds good points to your credit history. 

falcondisruptor

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Re: One Credit Card: DESTROYED
« Reply #6 on: December 12, 2014, 12:51:32 PM »
Congratulations, being ahead of schedule during the holidays is no easy feat!  Are you keeping the card around, or will you have a ceremonial destruction?

Retired To Win

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Re: One Credit Card: DESTROYED
« Reply #7 on: December 12, 2014, 06:41:53 PM »
Congratulations, being ahead of schedule during the holidays is no easy feat!  Are you keeping the card around, or will you have a ceremonial destruction?


No, no, no.  Don't destroy the card.  Having available credit is not the enemy.  Mishandling credit is the enemy.