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CC #1 paid off!

November 17th, 2014 at 05:54 pm

My Chase card is completely paid off and now I am working on the Discover card. I have about $1700 in monthly charges that go on that card (daycare, gas, home security and home warranty, etc) but I am paying just over $3100 on it each month. The Discover card and the Chase Slate card will be paid off in April, then the Bank of America card will take another year. Then the Capital One and Citibank cards will take another 8 and 9 month to pay off, respectively, with $75K of credit card debt paid off by January 2017.

DH has about $15000 on credit cards in his name, which all have pretty low interest rates, so those will take another 6 months after that, and then the pop-up camper will take 3 more months.

So by the end of 2017, we'll just be left with mortgage, car loans (DH's truck will be paid off by then though), and student loans. Still seems so far away, but this past year has gone so fast and has really motivated me to keep at it!

Also, my youngest will start kindergarten a few months before my CCs are paid off, so that will be extra money to throw towards the rest of the debt as well.

4 Responses to “CC #1 paid off!”

  1. jokeabee Says:

    Congratulations! It must feel so good to have one less card to worry about. Good luck with the next cards!

  2. creditcardfree Says:

    Congratulations! It is a long road, but it will be so worth it. Do you use the pop up camper? If not, or rarely, consider selling to get out from under the loan.

  3. LuckyRobin Says:

    Good job getting that card paid off.

  4. frugalredhead Says:

    We use the camper ALL the time. We bought it before we started focusing on our debt, and at times I have regretted adding another monthly payment, but it has been such a great experience for our family and our kids. There's a lot of things I'd cut back on before we sold the camper! My parents took us camping a lot as kids (tent camping though) and I love sharing the experience with my boys Smile

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