There's only a drop life left in my 19.5% Visa - I've almost slayed it. Only $84.85 left to pay off!
Well, I did slay it actually - now not only is it frozen in a block of ice in the back of my freezer, it's also cut in half. Over kill? No way! I don't think so. I wonder how much interest I've paid on it over the years... Thinking about the 19.5% interest makes me nauseous.
Next step is getting the auto-debit accounts (iTunes, cheap long distance, etc) linked to this card unlinked.
Has anyone heard that it's a mistake to cancel your credit cards once you pay them off? I heard Suze Orman say it once and it surprised me. I guess it improves your credit rating to have the credit and not use it. Can anyone confirm or deny this?
*Pay Day Friday Today!* After dropping $1,150.00 on my top level debt, my bank account stands at $936.31.
Let me introduce myself
7 years ago
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yes! definitely a mistake to cancel the cards when they're paid off if you want your credit score to be ok (i.e. if you want to buy a house, get a loan, etc in the near future). that was news to me too. here's a good article explaining it: http://gailvazoxlade.com/blog/archives/216
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