by Hope
Before I post this table, here’s what’s happened with the USAA credit card. You will see it’s much higher than normal. For the past several months, I have paid the amount for our phones and car insurance on this credit card, posted my debt update and then those bills come off this card. I would pay it at the beginning of the month, then wait for the next statement date, then pay bills with it. (Actually they are auto-paid, no extra fees for using credit card. Yes, I earn points. Which we all know I use when I travel.)
I would post my debt update in the in-between time. And not only did I do this to show the debt coming down, even though it went right back up, but moreso, I did this to help my credit score. Because waiting until after the next statement date, when they report to the credit bureaus helped my credit score.
But now…now I don’t give a flying flip about my credit score. I just want this debt to be gone. So I paid the CC by the due date and then immediately paid my insurance and phone bills versus waiting. That’s why that CC is higher. I’m still doing the same thing, just not delaying in paying the bills any longer.
| Debt Description | October, 2023 Total | Interest Rate | Minimum Payment | Current Total | Payoff Date (Est) |
|---|---|---|---|---|---|
| CC – Amazon | $1,497 | 29.99% | $48 | $1,391 | ? September, 2024? |
| CC – Frontier | $3,857 | 29.99% | $130 | $3,426 | ? November, 2024? |
| Dad – New Furnace | $2,600 | 0% | $0 | $2,600 | January, 2025 |
| CC – USAA | $5,000 | 19.15% | $135 | $4,761 | |
| Student Loans | $22,121 | 2.875% | $22,700 | In Deferrment until May, 2025 | |
| CC – Apple** | $500 | Paid off every month | $0 | ||
| CC – AMEX | $894 | 29.24% | $0 | $0 | Mar, 2024 |
| CC – Sams | $1,106 | 29.99% | $0 | $0 | April, 2024 |
| Personal Loan #1 | $2,500 | 0% | $0 | $0 | July, 2024 |
| Personal Loan #2 | $2,500 | 0% | $0 | $0 | August, 2024 |
| CC – Wander | $1,630 | 29.24% | $0 | $0 | August, 2024 |
| Total | $44,206 | $313 | $30,117 |
I already shared about my unplanned CC payoff here and that my second personal loan was also paid off this month.
I’ve called and closed those first two credit cards that were at a $0 balance. I’m sure that’s going to ding my credit score. But on the flip side, those were my newest cards, I think. So may help eventually since my oldest credit average should increase. Again, I think. But really, not tracking my credit score at all these days. No foreseeable need.
Hope is a creative, solutions-focused business manager helping clients grow their business and work more efficiently by leveraging expertise in project management, digital marketing, & tech solutions. She’s recently become an empty nester as her 5 foster/adoptive kids have spread their wings. She lives with her 3 dogs in a small town in NE Georgia and prefers the mountains to the beaches any day. She struggles with the travel bug and is doing her best to help each of her kids as their finish schooling and become independent (but it’s hard!) She has run her own consulting company for almost twenty years! Hope began sharing her journey with the BAD community in the Spring of 2015 and feels like she has finally in a place to really focus on making wise financial decisions.