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falldown7timesgetup8
falldown7timesgetup8 Posts: 216 Forumite
in Debt-free wannabe
Im SO happy - ive just paid my first credit card off in FULL :j
Debt one GONE - What an AMAZING feeling!! :beer:
Total Debt: was £8,400 / now £0
Debt free date - 31st January 2013!!!

Swagbucks earnings £50/£600
2013 SAVINGS - :dance: £605 / £12,000
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  • pink_pirlie
    pink_pirlie Posts: 238 Forumite
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    :beer:

    Well done!!!
    Amazing feeling when you pay the first one off!!! Congratulations!!!
    :T:T:T:T
  • falldown7timesgetup8
    falldown7timesgetup8 Posts: 216 Forumite
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    Can anyone tell me what the best thing is to do for my credit rating incidentally? Keep the card and use only for travel and pay off in FULL each month OR just cancel completely? x
    Total Debt: was £8,400 / now £0
    Debt free date - 31st January 2013!!!

    Swagbucks earnings £50/£600
    2013 SAVINGS - :dance: £605 / £12,000
  • pink_pirlie
    pink_pirlie Posts: 238 Forumite
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    I would cancel it, but for the reason that so many times I balanced transferred off one card only to rack up more debt on the one I cleared. I finally saw sense and started cancelling them as I paid them off and it is much more motivating.
    That's what worked for me, but you need to think about what is right for you.

    Good luck to you!!
  • slowlyfading
    slowlyfading Posts: 13,429 Forumite
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    Well done :j :j and cancel it!
    Be who you are and say what you feel because those who mind don't matter and those who matter don't mind.
    Personal Finance Blogger + YouTuber / In pursuit of FIRE
  • Heffi1
    Heffi1 Posts: 1,291 Forumite
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    I agree with the others, get it cancelled then you are not tempted to spend on it again, then do the same with the others once you have paid them.

    Well done that is a great achievement :)
    :) Been here for a long time and don't often post
  • HeadAboveWater
    HeadAboveWater Posts: 3,941 Forumite
    First Post First Anniversary Combo Breaker Debt-free and Proud!
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    Well done :T

    Personally I'd cancel! You've worked hard to get the debt cleared so keep it like that and remove temptation!! ;)

    You'll be able to put more money towards your other debts now and get those paid off quicker too!! :D
    Wealth is what you're left with when all your money runs out
  • falldown7timesgetup8
    falldown7timesgetup8 Posts: 216 Forumite
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    Thanks everyone! :T:T:T I was SO excited about paying the last bit off off, that I stayed up really late last night in the hope that my pay would go in while I was still awake...at 1.30am i gave up and went to sleep!

    This debt alone has been costing me about £40 a month in interest at a rather vile APR of 22.9%, so i am THRILLED to be rid of it. I also paid a lovely fat chunk off card two this morning....and that one should be clear by Christmas. :beer:
    Total Debt: was £8,400 / now £0
    Debt free date - 31st January 2013!!!

    Swagbucks earnings £50/£600
    2013 SAVINGS - :dance: £605 / £12,000
  • exarmydreamer
    exarmydreamer Posts: 603 Forumite
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    Hi :j

    Well done, As I paid the cards off, I cut them into 4 pieces and kept them in drawer along with the letters of confirmation of cleared balance. Once I paid everything off, I bought a frame and made a collage of colorful cards. Very pretty and very satisfying.:rotfl:
    Mortgage: Aug 12 £114,984.74 - Jun 14 £94000.00 = Total Payments £20984.74

    Albert Einstein - “Compound interest is the eighth wonder of the world. He who understands it, earns it ... he who doesn't ... pays it.”
  • pink_pirlie
    pink_pirlie Posts: 238 Forumite
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    exarmydreamer wrote: »
    Hi :j

    Well done, As I paid the cards off, I cut them into 4 pieces and kept them in drawer along with the letters of confirmation of cleared balance. Once I paid everything off, I bought a frame and made a collage of colorful cards. Very pretty and very satisfying.:rotfl:

    What a great idea - I wish I'd thought of that.
  • Motoko_2
    Motoko_2 Posts: 241 Forumite
    Debt-free and Proud!
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    Well done and get rid of the card :j:beer:
    DEBT FREE on the 23rd December 2013 :beer:
    :j :T
    Sealed pot 7 no 1894
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