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Credit Card Plans

January 8th, 2015 at 10:41 am

A lot of my posts haven't really laid out my plans for debt reduction, so I thought I'd give a little rundown of my credit card situation...

As I mentioned before, the whole churn thing is not for me, and in doing that, I ended up in a bit of mess.

I currently have the following cards open:
Kohl's - 0
Target - 156 remaining (Just paid the last statement balance of $45)
Bank of America - 1033.88 remaining (Just paid the last statement balance of $174.11)
Chase Freedom - 4665.94 (4500 is awaiting a balance transfer to NFL Points)
Chase Slate - 989.33 remaining (Just paid an extra $100)
Total Rewards - 0
NFL Points - 0 (Will be increased once balance transfers go through)
Amazon - 256 (I will pay this off this weekend with my babysitting money and close it right after.)

I've already started the process to close Kohl's and Total Rewards. I will pay the remainder of my babysitting money (an expected 400) to BOA and then transfer the remaining balance to the NFL Points card. At that point, I will put the BOA card away for good (I don't want to close it as that is my longest card.). In February, I will pay off the Target and Chase Freedom cards completely. Those I am also keeping, but will refrain from using until I get a handle on paying off the balances in full again. After that, it's extra payments to Chase Slate until paid (goal is May) and then closing that one. And then extra payments to NFL Points which will be paid in full and closed by March 2016 (well before the no interest period is up).

1 Responses to “Credit Card Plans”

  1. VS_ozgirl Says:

    Sounds like a smart plan, good luck with it Smile

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