Today is pay day. It’s also the first pay day where I haven’t had to give a single penny to the ‘rents for school. School is 100% paid for now, so it’s time to tackle the ~$6,500 I have in credit card debt.
With a couple clicks of my mouse, and a few taps on my keyboard, I logged onto my online banking this morning and paid off Credit Card #1. Ok, the balance was only like -$480, but still! It’s done. Gone. Goodbye. See you never!
Seriously, see you never. I cut it up into probably 30 or 40 pieces, last night. Am I going to cancel it? Not right now, because I want to have some available credit (in case anyone is checking my credit rating). But once Credit Card #2 is down to 50% of it’s available limit, I will be cancelling CC#1.
So, what card was it? A CIBC Classic Visa Card, to be exact. At 19.99% interest with no annual fee, it is the second credit card I was approved for, at the young age of 19. (Hmm, maybe I should be calling it Credit Card #2…) Over the years, CIBC increased my limit more and more until I had $14,500 of it. I obviously couldn’t handle that, so I lowered it to $500 and have used it as my credit card for making online purchases ever since.
While I have always been happy with CIBC, I really just don’t need this card. And with that, #5 is crossed off of my On a Budget list! Onto #6…