card payoff success #3!

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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Postby deathrider » Sat Feb 28, 2015 9:05 pm

I can't see myself ever carrying a balance on any card, I really hate interest
[size=100]Citi Prestige CL 16.5k
Chase Sapphire CL12.5k
Amex Gold NPSL
Sears MasterCard CL 8k
JP Morgan Ritz Carlton Canceled[/size]

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Postby jcarte29 » Wed Mar 25, 2015 10:46 am

jcarte29 wrote:I know most on here can share in the excitement of paying a balance off!!! Yesterday I paid off my third (of 6) cards, my Buy Power GM Mastercard. The highest balance at any one point was around $1,400 (as recent as December).

So 3 of my cards are 0 balance now, my Cap One Quick, my Lowes Store, and now my Buy Power GM.

The next one to pay off is my US Airways, which has a balance of around $700.

And I'm not planning on gettin rid of any of these, just not have as many open balances (and obviously higher utilization available).

Anyone else throwin every extra dollar they have at his/her card(s)?! LOL

Update: Today is payoff day for my US Airways MC! I've since added a couple charges so today's payoff is $790, and the highest balance I had at any point was $1,900 almost 6 months ago, when I transferred my Cap One Quick balance over. Loads of interest saved!
CITI Diamond Preferred $5,800 [06-16]
AMEX EDay $12,000 [11-14]
Lowes Store $10,000 [4-14]
CSP VISA $6,000 [7-14]
GM MC $9,000 [9-14]
AAdvantage Aviator Red MC $10,350 [10-14]
Discover IT $4,000 [03-15]
Chase Marriott VISA $5,000 [04-15]
Cap One Quick $2,600[4-10]

Brad Bishop
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Postby Brad Bishop » Wed Mar 25, 2015 10:54 am

deathrider wrote:I can't see myself ever carrying a balance on any card, I really hate interest

I regularly pay mine off, as well. Occasionally I'll carry a balance if something comes up but it's usually gone in a few months.

It's why my criteria for credit cards are:
- no AF
- low APR (below 11%)

If it gets me cash back then great. These two things above are primary for me.

Congrats to those of you paying off your cards, though. I've carried balances before (like long term balances - in my younger/more irresponsible days - not proud of it) and paid them off and it feels good.

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Postby takeshi » Wed Mar 25, 2015 11:13 am

It's always up to the individual but I highly recommend considering total cost/benefit versus AF/no AF. My biggest rewards comes from cards with AF's. Of course, YMMV. As always, run the numbers for your spend.

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Postby amex007 » Mon Apr 06, 2015 2:34 pm

I agree it feels good when paying off a balance. Right now i am carrying a balance of $900 on my amex ED but hope to pay it off in a month or two. Havent felt rushed on it since i'm in the 0% APR phase.
Amex Gold NPSL | Amex ED 28500 | Barclaycard Arrival 17500 | Hyatt visa signature 5000
sockdrawer-- GM 4000 | Unionplus 2200
EX 795 EQ 786 TU 790

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Postby ingramjuan » Mon Apr 06, 2015 4:53 pm

Sounds like we are traveling down the same road. Just paid off 3 cc 2 weeks ago, (took over a year) (relocation expenses) and have one left for $1000. Debt free by May 10, 2015.
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom
Business: Amex Plum
Store Card: Lowes

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Postby JamesMS » Tue Apr 14, 2015 10:44 am

Congratulations on paying off the card. Keep doing what you are doing.
Main Cards:
Amex BCE
Amex Everyday
Bank of America Cash Rewards
Chase Freedom
Capital One Quicksilver
Citi Thank You Preferred

Spark Cash Back (Business), Amex Plum (Business)

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