The PIN for my new credit card arrived the other day. I didn't even bother to read it, I just put it in one of my files. I haven't got the new card yet but when it arrives I want to have a plan about what I'm doing. (The last time I transferred debt to a 0% card I didn't have a plan, see CC2's balance) It's either 33 or 34 months interest free. I don't want to just pay the minimum, although maybe I should so I can focus on the extortionate balance that is Bank of Scotland aka CC2. I do plan on paying extra to CC2 now that CC1 is 0%. Obviously, I know I'm going to have a tight month this month.
I checked Capital One's statement and the interest hasn't been added yet so I will need to pay that from my October pay, which is two weeks away yet.
Even though I now have this huge balance "available to spend" I guess I just want to remind myself that it isn't there for spending. In fact, I haven't activated the card
This post is really just to tell myself that I can't celebrate when the new statement comes through because I've still got the debt. It's just on a different card.
And when this new card arrives it will go somewhere safe (my folder) I'll set up my details so I can view the balance online. I'll make a payment. I WON'T USE IT!!
Ok. That's all.
Just Thinking
October 4th, 2014 at 08:54 pm
October 4th, 2014 at 11:05 pm 1412463910
You are right that you don't have anything available to spend. It is not money to spend but extra debt to accrue and pay interest. Do. It use the card.
What is the interest rate on cc 2? Are you going to transfer that balance, or a portion of that balance someplace? What is your total amount each month you can pay to debt? If you have 133 a month (plus the 30) you will be out of cc debt in 33 month! Fantastic!
You have done so well in the past year-stay the course, you can do it!
October 5th, 2014 at 08:38 pm 1412541498