First Time in Two Decades

by Sean

Die Chase Die

For the first time since I initially laid down the plastic to pick up some trinket almost 20 years ago, we are officially credit card debt free!

Following my little rant over Chase doing extensive modifications to our agreement, we shuffled a few items around in our budget, waited for my side business commission check to come in, and then scheduled one whopper of a payment to them. The payment cleared last night.

And now, I have an envelope on my desk containing the remains of a credit card along with a letter requesting account closure just waiting for me to find a stamp.

  • http://www.HomeMortgageLoansRefinance.net Credit Cards Credit Score

    Great to see you are finally credit free but don’t you think that closing all your credit cards will affect your credit score? Why not just put them away and only use them in an emergency? Just my 2¢.

    Credit Cards Credit Score´s last post:Jumbo Mortgage Loans

  • http://www.irregularpayments.com Sean

    Ah, yes, the old ‘but what about your credit score’ claptrap.

    Screw it. I don’t care about my credit score anymore. I don’t intend to borrow money from anyone anymore. Certainly not from anyone who is going to base their decisions solely on a single number.

    And I refuse to do business with those who can unilaterally change the rules of the game. The $10 ‘service charge’ just drove the point home. Borrowing — or even not borrowing, as my new ‘agreement’ with Chase says nothing about stopping the $10 charge if my balance was zero — from entities such as these, just to maintain my ability to go into debt in the future, is laughable.

  • http://www.bolinskelaw.com Minnesota Lawyer

    Congratulations! Actually I agree with you. Personally, I believe that it is better to have no debt at all. :) I never had a credit card… and I never plan to have one.

  • http://tucsonseosolutions.com/blog Geri @Tucson Search Engine Optimization

    I understand that you want to dump your card. Were you aware that doing so will hurt your credit score?

  • http://www.creditspark.net/ Luis Narvaez@Credit Spark – Financial Tips

    Hi, first time on your blog. Congratulations on ending your credit card debt struggle. Go ahead and get rid of the card and save some money. We are in though times so money saving is the way to.

    Luis Narvaez´s last post:Credit Cards – Who Can Benefit From a Credit Card?

  • http://www.npbs.co.uk/financial-advice/ Ross@Norwich & Peterborough Building Society

    Huge congrats!
    I really respect what you are doing by trying to stay out of debt completely – I think too many people have their heads in the sand about debt.
    I am a full-time student so sadly I will be saddled with thousands of pounds of debt before I even get out of University – despite also having a job while studying. However, I have decided to try and stay away from credit cards completely like you – maybe I’m missing something but I really don’t see the need to have one for most people!

  • http://www.intellegentia.co.uk/ LEads@Lead Generation

    Congrats!

    Debt is horrible!

    Once you’re in debt, it’s very difficult to get out of that situation.

  • http://www.loanclassroom.com Connecticut Mortgage

    I am glad that you are credit card debt free but i am worried about your credit score. Anyway, it is nice to visit your blog. Thanks!

    Connecticut Mortgage´s last post:Value is in the eye of the beholder

  • http://www.mindrivermarketing.com Tom Krug

    no debt is wonderful, but the ability of tapping into new lines especially during these times is an important consideration

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