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I am soooooo excited!!!

post #1 of 10
Thread Starter 
This is a HUGE weight being lifted off my chest! I got my tax return back-YAY!-so my goal this year is to pay off some credit cards. I am paying off 3 whole credit cards with my return this year. When I turned 18, I thought it would be awesome to get credit cards so I had 6! Now I just paid off THREE-count 'em-THREE credit cards! WOO-HOO!

Now looking at my bank account is kind of sad but these are cards that I don't want anything else to do with anymore!

Just had to celebrate!
post #2 of 10
congrats, Courtney!! That is a major achievement!!!
post #3 of 10
Congrats! Now put the others away and don't use them while you owe a balance on any of them! Making payments while continuing to make charges defeats the purpose of making the payment
post #4 of 10
Congratulations, that's great!
post #5 of 10
Quote:
Originally Posted by Natalie_ca View Post
Congrats! Now put the others away and don't use them while you owe a balance on any of them! Making payments while continuing to make charges defeats the purpose of making the payment
Congrats! I know how good it feels to pay off credit card debt.

Also, take the payments you were making on those cards and apply them to the others. You haven't been using that money anyway, and it'll just help you reach your final goal faster.
post #6 of 10
Congratulations! That's wonderful!!!
post #7 of 10
Congrats! Thats exactly why I don't have credit cards!
post #8 of 10
post #9 of 10
Courtney that is amazing news sweetie!!! Congrats!!! You're on your way to awesome credit
post #10 of 10
Congrats!! I hate credit cards! When I was in college (15 years ago) I actually stopped using cash and paid for everything with credit. I got my first one (for emergencies only....) and yeah, I was approved for every card I applied for...and I used them! I actually moved out of the country and they dropped off (didn't realize it), and I lived without credit for 10 years.

Now, once you get everything paid off, take my advice and still use one and keep a running balance on it. I didn't use anything for 10 years and thought I was being responsible by not getting myself into debt. After I inherited my parents 2 houses and 2 cars and was paying the bills on them (and I did pay off any debts I could find when I was able to when I had the money), I tried to apply for a home equity loan to pay for my wedding (since I owned 2 houses I thought I could get it). Every loan I applied for came back denied. I thought it was because I had a terrible credit rating because of the bills I didn't pay.

No. It was because I had a credit rating of ZERO. Finally someone explained it to me. He said I had NO credit history (based on the last 7 years). Here, I thought I was being smart, not getting myself in debt and it actually hurt me. I had no house payment, no car payment, no credit card bills in my name for the last 7 years so I was a risk.

So, after you get yourself caught up, make sure you have some kind of outstanding balance, either car payments, bank loan, small credit card bill, anything to give you some kind of credit rating.
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