Debt snowball rolling the other way

I have looked over some of the financial changes I will have to make this year and I have decided to change my debt snowball strategy. I was originally going with the highest interest method but I will have to now use the lowest balance method. You may remember that I recently got my highest interest rate dropped on one of my credit cards. I was using another 0% interest card to pay off the other cards and yesterday I went in to do a...

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Discover card rate dropped

Yippeee! Today I took a big risk and decided to call Discover to see if I could get my interest rate lowered. I told the customer service representative that I wanted the rate lowered and after checking out my payment history they decided to drop my rate down 5 points starting on January 13th. I am so incredibly happy because I did have a really high rate on that card. The interest alone from that card was more than the minimum...

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Big mistake

On a point of order…I got this fixed but did not want to delete the post. I called the credit card company and there was a problem with the website. I did pay on time…and the payment did go through. The website was just showing the wrong information. 11/26/06 Today I noticed that I had committed a debt-reduction sin. I completely forgot to check my software for the due date of one of my credit card...

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Improve your credit score

5 steps for improving your credit rating Close out your newest accounts so that you don’t lose your longer credit history. Close out accounts slowly over several months. Verify that all accounts you’ve closed are reported as “closed by consumer” for the best report. Even if creditors offer to raise credit limits, allow yourself only moderate credit limits. Keep your balances low and avoid revolving balances...

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Credit Card balance transfers

Some people think they can transfer credit card balances to lower their debt. This only works if you do not charge anything on the card you are transferring to and pay more than the minimum due. Otherwise you are just shuffling the money and the interest around and you may end up paying more in interest in the long run. Once again I see people saying you should cut up your credit cards but this, in my opinion, is not very practical....

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