Tuesday, March 10, 2009


We have one credit card with a balance and with the new Financial Peace University class we are taking at church our goal is to get out of debt and start saving and paying cash for things. I noticed Sunday that our credit card had increased to 17.99%. We don't pay late and I always pay more than the minimum. So we called about lowering the rate and after talking to 3 different people I was assured that was the best rate possible. Our card is with GMAC and I wonder if they are hurting so bad that they will risk losing someone to a lower rate.

Well, I took one of our offers from New York Life. Since I am a client of theirs I can get 0% til May 2010 with NO FEE for balance transfers. Then it is fixed at 8.99%. With our snowball paying off of debt we play to pay that card off by November of this year and then would only have our house and 1 car we owe on.

My brother may sell me his 1980 CJ-7 for $3000 so I'll have a vehicle to drive when my truck lease is up as well.


me said...

Good call on the transfer since they wouldn't give you a better rate.. Just don't end up adding more debt b/c of another card or something..

The MAN Fan Club said...

me, we are pretty serious about getting out of debt. Going to pay off the TV and computer tomorrow...$1000 worth. Then pay off our A/C from last summer in 2 months. Then attack the charge card.


Janea said...

I'm so glad you guys are doing this. Stay gazelle like and you'll get it done before you know it!

Anonymous said...

It is great to have a plan. Cars kill ya if you always have a payment. Right now we have TWO car payments but that is going to change at the end of the year.

Tracey and I started with our new plan in January and it is amazing how well it is going.

Keep your eye on the prize! You will get there.

The MAN Fan Club said...

Janea, You will have to be our direct mentor. Be tough on us!


The MAN Fan Club said...


I've always had lower car payments and look forward to having just one.