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Credit Card Debt Free!!! (sort of)

March 31, 2010 by Lulu in Credit Cards with 20 Comments

I am officially credit card debt free as I sent off a humongous payment to the very last card that I carried a balance on. It feels great to be free of that debt and the only thing I have left to worry about is the car loan.

I actually still have a balance at 0% interest on the card that I first used when I got LASIK and then later paid off and then used again to pay for the dental surgery for my wisdom teeth but I am not counting that balance in my debt load. The reason I have decided to ignore that balance is that I have all the money to pay for it already earmarked in savings. This money has been set aside in ING specifically for that credit card and although the final payment is due in December 2010 I will have the card paid off in October 2010. The card is at 0% interest so I am in no rush to pay it off in full right now as I can put that money to better use in the meantime.

I got rid of that credit debt through a number of strategies, namely:

  • Budgeting
  • Lending Club Loan
  • Sacrifices
  • Saving
  • Using the Debt snowball and
  • Snowflaking payments

I made the best use of my ING account and had payments sent every week to the credit card so that I did not have to think about paying. I paid a little more than the minimum and divided the payments into four weekly payments that I sent off every month. I simply set it and forgot about it until it was time to check to make sure that the payments had been clearing.

I sent off every snowflake payment that I could think of, including the money I saved by using coupons over to that credit card and now at last it is finally showing a zero balance.


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  1. MichelleMarch 31, 2010 at 7:12 amReply

    Congrats! That is so exciting!!!!

  2. ParisGirl111March 31, 2010 at 8:42 amReply

    Congratulations on paying off all your credit card debt. This is a huge accomplishment!

    • LuLuGalApril 1, 2010 at 5:37 pmReplyAuthor

      Thank you. I feel so much better now knowing that I do not have that debt looming over my head any more. Now on to the car loan.

  3. StrawberryMarch 31, 2010 at 11:43 amReply

    Ah!!! That is SO GREAT!!! Good for you. I recently paid off two cards and only have a small balance left on one which I’ll be paying off in the next two months then I will be officially free of credit card debt! Woohoo.

    • LuLuGalApril 1, 2010 at 5:37 pmReplyAuthor

      As soon as you are free of credit card be sure to come back and let us know!!!!!

  4. Credit GirlMarch 31, 2010 at 1:30 pmReply

    CONGRATULATIONS! Wow! you’re just sending all of your debt away! Making great progress huh?Funny how you included sacrifices…But we all have to do it sometime.

  5. Mr Credit CardMarch 31, 2010 at 7:31 pmReply

    we all await for the day the car loan is paid off….keep going.

  6. noel at envelope budget softwareApril 1, 2010 at 8:10 pmReply

    A Big CONGRATULATIONS!!! Wish I could be like you someday. I am currently in debt now and Im also doing the strategies you mentioned. Good luck for me :)

    • LuLuGalApril 2, 2010 at 7:48 pmReplyAuthor

      It takes time and a lot of work but you can do it if you just keep plugging away.
      I carried credit card debt for years before being able to pay it off and sometimes it seemed like this day would never come but I finally did it…and so can you.

  7. ramaApril 2, 2010 at 8:25 pmReply

    That’s great to hear. Congratulations, LuluGal! When I was in credit card debt trouble myself, I had to consult all sorts of debt elimination online gurus and went through all kinds of humiliating episodes. But, all sufferings have endings for those determined to overcome them.

    Congratulations to you, again :)

  8. Bad Medical Billing PracticeApril 4, 2010 at 5:56 amReply

    […] congrats to Lulugal who is finally credit card debt free (well sort of). Read her post to find […]

  9. dubweiserApril 4, 2010 at 2:58 pmReply

    Congrats. I just received my tax return and guess where the money is going to :)

  10. Net Age Web DesignApril 6, 2010 at 5:40 amReply

    Excellent news! Congratulations on finally settling that credit card debt! What a milestone! You’ll be killing your car debt real soon now, I’m sure, as you can dedicate all your resources towards that purpose.

  11. Guy G.April 6, 2010 at 11:24 pmReply


    Sounds like you’re well on your way to financial freedom. The first step is often learning tips on budgeting and using them to reduce spending and pay off high interest debt. Glad to hear you’re moving forward financially.

    As a financial consultant, I’d still suggest you pay off the 0% card, as it won’t be forever. You don’t want to be paying it when it’s 19% or more


  12. Car BatteryApril 10, 2010 at 2:20 amReply

    Yup, being debt free is an awesome feeling, especially after you’ve overcome huge amounts of debt! I’ve had some friends who have done it, and you can see how much their persona and attitudes change, and the stress associated with the debt comes right off.

  13. Baby England KitApril 20, 2010 at 11:07 amReply

    ohhh dude I envy you!! I’ve been trying to clea my debt for a really long time… funny enough it only gets bigger

  14. Baby England KitMay 10, 2010 at 11:30 amReply

    Just curious what is happening with people’s personal finances since the recession kicked in. Honestly, I think its a good idea people are not able to take out credit like they used to. I’ll never comprehend how a friend of mine was able to have $120,000 in credit card limits on $40,000/yr income along with a house payment.
    I am finally debt free (I do not own a home), no credit cards, no car payment, etc. So I am curious, are people getting further in debt during this recession or less? I figure most either cannot get credit or are not interested in getting credit as they did in the past. My guess would be, most people have less debt or no debt.

  15. Ev YemekleriJune 19, 2010 at 6:08 pmReply

    Congratulations. The question is 3 months later, are you still debt free?

    • LuLuGalJune 20, 2010 at 6:59 pmReplyAuthor

      I am still free of credit card debt….all I have left is the car loan and that is being vigorously attacked.

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