Paid them all off!

meganeman_2

Hello everyone,id just like to share my good news ive just paid all my credit cards off and CUT them all up! .I have just completed a remortgage and borrowed additional funds,its all nice and managable now.Its a great feeling,but its amazing when you clear the balances off the accounts,you suddenly become a "good" customer they offered me more credit:mad: .You have to be really disiplined to cut the cards up and CLOSE the accounts:j

jolouise1904

WOO!! cant wait to be in your position! by this time next year i will be credit card free!!

Thomas77

Sometimes credit cards are useful for purchasing goods on the net incase the company goes bust, but you have to be so careful to repay your balance!

meganeman_2

It is a great feeling,i fell into trap years ago to getting credit cards,transferring the balances to 0% but NOT closing the previous cards:eek:!!!.I then spent on the cards ,then the credit card companies lowered my credit limit so basically i was left with cards with high balances that i could not use!.

Sagaris

Good for you meganeman - we have today closed the 3rd of 4 credit cards, paid off just over £7,700 so far this year - just the last one to go now! I finally adopted the advice from many people on this site - transfer the balances to 0% and don't spend on them - I didn't open the PINs when they were sent and kept them well hidden so I wasn't tempted - and have now got us both a card that is used but gets paid off in full every month - that's a good incentive not to overspend!!

Next job is to change both those cards for a cashback one or perhaps a Tesco credit card - every little helps LOL!!

meganeman_2

Well done Sagaris,i just fell into the classic trap spending on cards then just paying the min payment!.Good luck with the other card;)

borders_dude

meganeman wrote: »

Hello everyone,id just like to share my good news ive just paid all my credit cards off and CUT them all up! .I have just completed a remortgage and borrowed additional funds,its all nice and managable now.Its a great feeling,but its amazing when you clear the balances off the accounts,you suddenly become a "good" customer they offered me more credit:mad: .You have to be really disiplined to cut the cards up and CLOSE the accounts:j

Well done.:beer::T

Cant wait to clear mines!

meganeman_2

Thankyou and good luck with your cards;)

binaryuniverse

Well done. I've still got a long way to go before I'll clear my £5400 of debt. Can only just about afford the minimum payments but as I've shuffled all my debts on to low rates I'm doing more than just serving the interest.
But, as you say, staying disciplined about it is they key. Its coming down slowly but surely.