This category is where I am going to track my debts and anyone with suggestions feel free to chirp in. As I mentioned in my main blog the goal for me right now is increase FICO as fast as possible so we'll be ready for the refi in March of 2008 on our mortgage. SO the main goal right now is to get the balances below 50 percent and then start attacking the interest rates one-by-one. So I will post accounts, balances, limits and APR's and each reply will have the payments made and updated balances (I think I may even post when I get notified a bill is due so that when I come back here it's just another reminder to pay the bill!) The sooner we see 0 the better!
Card/Balance/Limit/APR
Card 1/$12416/$20000/14.23
Card 2/$15215/$31000/12.24
Card 3/$8135/$12500/12.24
Card 4/$6363/$9000/18.24
Card 5/$6214/$9000/18.24
Card 6/$6143/$8000/0.00*
Card 7/$6023/$10000/4.99**
Card 8/$3821/$10000/0.00***
Card 9/$3681/$7250/17.24
Card 10/$3464/$4400/16.99
Card 11/$2882/$3900/13.99
Card 12/$2100/$2500/0.00****
Card 13/$4000/$4500/5.82
Card 14/$416/$5000/15.99
Card 15/$135/$17500/19.99
*Teaser rate ends 4/1/07 (up to 13.99)
**Balance Transfer rate
***Teaser rate ends 8/22/07 (up to 24)
****Teaser rate ends 5/1/07 (up to 13.99)
Now for some number crunching. When you total it all up it's $81008 in unsecured revolving debt. Ow that hurts! Now as I said we're talking about reducing balances to limits to increase my credit scores for a better rate at refi time. The cards that actually report on my credit reports are Card 1, Card 2, Card 9 and Card 11. So those are the cards I am focused on first. Card 1 needs the most help to get to below the 50 percent mark ($6399) followed by Card 11 ($932) and Card 9 ($56) so that's where I am focusing my efforts on first. I have some plans going forward so stay tuned to the blog and I'll be sharing them with everyone!
My debt reduction tracker
February 28th, 2007 at 04:40 pm
February 28th, 2007 at 05:01 pm 1172682073
February 28th, 2007 at 07:05 pm 1172689523