Day 273 of my Financial Freedom Countdown
After nine months of on time payments I have finally fallen below my credit limit on my highest balanced credit card. The card had reached a balance $4,000 over it's limit and with today's payment it has dropped below the line.
This card reached a balance of $26,000 before I put it on a balance liquidation program. Unlike like my other creditors, which my other creditors had given me generous conditions like zero percent interest rates and deducting past due interest, this credit card company didn't really offer me much, but an interest rate reduction from 29.99 percent to 3.5 percent.
Nevertheless, the drop in the interest rate was a significant help. For nine months I have been able to maintain the payments and the balance is coming down nicely. I am almost through the first year of my five year plan and now we are able to start getting down to the meat and potatoes.
[This post is written and copyrighted by Financial Elite (http://financialelite.blogspot.com/ ).]
Did you enjoy reading this article? You can receive free full-text articles from Financial Elite by RSS in your email inbox daily by entering your email HERE. Your email will only be used for this daily subscription, and each email will include a link you may use to unsubscribe at any time. Also follow us on Twitter.
No comments:
Post a Comment