making some progress!
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making some progress!
| Sat, 03-19-2005 - 9:47pm |
If you all remember my Chase card upped my percentage rate to a whopping 29.45% in February. Our balance was at 9500 but we paid most of our tax return toward it (4000) and my husband cashed in his 401k from his previous employer (its been 3 years) for another 1600 to pay toward it, then he had some reimbursibles that he didn't turn in until this month that add up to another couple hundred and an unexpected 400 bonus, so I can pay about 2200 this month bringing my balance down to about 3300. We got an offer in the mail a little bit ago from discover (we didn't even remember we had a discover account) but it was for balance transfer onto our 3500 credit line with 4.9 until August. I am sure we missed the deadline for that offer, but my husband is going to call them and see what they will offer us now so we can transfer the rest of the balance over--whatever it is has to be better than 29.45%, right?!? I know not to close my chase account because it damages our credit to be close to our credit limit, but I can't wait to someday be in a position to close that account so we never have to deal with them again!! Seeing this balance drop is making me feel like we can actually dig our way out of this hole we dug ourselves into! Now we just pray that nobody else decides we are a credit risk and raises their percentage rate, I don't know how we could ever afford to pay it down if they did!
Annie
Annie

Good Luck with seeing if Discover will extend the offer!
Great job on getting the balanced lowered!
Becky
CL of 4th, 5th & 6th grade Scoliosis
Even if they don't have a current offer, just wait. Once the lower balances hit your credit report your score might improve (within a couple months) and when your score is good you get 0% offers out the wahzoo. The best deals I've seen are 0% for 12 or 18 months with no balance transfer fees.
Certainly 4.9% until August is good, but make sure to know what the transfer fee is too. And when August gets here, keep an eye out for a better no-fee transfer offer if the balance is not paid.