Activating "The StealthCard"
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| Tue, 10-12-2004 - 10:55pm |
For those who don't know what the heck I'm talking about, this all goes back to a couple of months ago when MBNA jacked up my APR on my Barnes & Noble Mastercard. I typically carry a higher balance on it because it's what I use to buy library books (I'm a librarian). Out of the blue, my APR went from 8.99% to 19.99% VARIABLE. Yikes!! So, instead of getting all bent out of shape about it, I stepped back and reevaluated my options.
Here's the post:
**I'm thinking I'm going to do more of a "StealthBall" routine on them...
I have an AT& T card that I'd opened to surf some balances to way back when I started the snowball rolling. It's at 8.9%. However, there's an offer I can use to surf balances over to it and only pay 6.99% fixed for the life of the payoff. "hmmm," I said. "19.9% or 6.99%??? Such a choice..."
I'm going to hammer away at the AT&T-I figure Good Lord Willin' and the cricks don't rise-I can get it to zero by November 30th. Then I'll merrily do the "Transfer Boogie", which as you know is closely related to the "Debt Snowball Shuffle", and ship all of MBNA over to a lower rate.
Then, I figure I'll go back to my regularly scheduled snowball programming, LOL!
I should write the nice MBNA people a thank you letter:
Dear Nice MBNA people,
I just wanted to take a moment to thank you for spurring my snowball and snowflaking efforts on to a greater velocity. I'd become rather blase' about the whole thing, just rolling along, happily minding my own business, when BAM! Right out of the blue-ZOOOOOP! Up went my APR, along with going variable.
I am happy to say that by the end of 2004, I shall no longer require your services because my friends, you will be history-as in 'seen only on my credit history,' and not in a store near me.**
So, just a bit ago, I finished paying off the AT & T (who, hopefully won't now jack up THAT rate, lol), and...
"StealthCard ready to activate."
"Target Acquired...MBNA Barnes and Noble MasterCard."
"Locking in on Target..."
"Prepare to launch StealthCard."
"Launching in TEN NINE EIGHT SEVEN SIX FIVE FOUR THREE TWO ONE..."
"BOOO-YAH!!!! We have a BINGO!!!"
I'm not going to close it just yet. Coincidentally, my other MBNA card, Motley Fool (Reloaded) is now the next target on the snowball. When we've paid that off, then and only then will I tell the nice MBNA people, "SEE YA!" (otherwise, I'm fairly certain that the rate on the Motley Fool will *suddenly* go way up too!)
Oh, this feels wonderful! It's moments like this that make this whole long frustrating journey worthwhile!
~Lisa
