I finally did it...14 months later, I paid off my credit card debt. I am super excited about this...and I hope that it stays off for a long long time. But, I have a buying/spending problem.
Instead of not having a credit card - I travel for work & rent cars & don't have a ton of cash available and whatnot so that isn't too practical - I am considering opening a new card with rewards this time. I can't believe in the last few years how much money I put on a credit card and how much I paid off, and what did I get from it aside from 17% interest rate? I am now considering what kind of credit card to get. So I was wondering what you, my readers, have and what you like/don't like about the rewards card.
Good thinking, Denise! I know of some people who can't live without their credit cards. I might tell them this. In money matters, we really have to be shrewd. If you can't get rid of something, you have to at least make sure to get extra perks from it. I always prefer those with travel benefits. But of course, we should put more consideration on the interest rate. :]
ReplyDeleteThanks! I ended up with a Capital One rewards card because it is versatile. I've put some charges on it for work - and I hope to reap some of the rewards in a few months for personal travel.
DeleteHow’s the interest rate on the new card? Did you drop the old one or keep it for the credit rating you’ve built-up on it? That’s my problem with switching credit companies. I feel that it’s a waste if I just throw away that credit rating that I’ve raise with a certain company. This is why I ended with multiple cards before. But now that I’ve had time to raise the credit rating of the most recent one, I’ve let go of the other two, which I wasn’t really using that much for the past year. Looking forward to using the rewards on our vacation later this year!
ReplyDelete>> Allan
Allan, I have 0% interest for the first year on purchases and/or transfers. I cancelled one credit card (that I only had for 1 1/2 years) and I am still holding onto the one I've had for longer - maybe for the just in case scenario? I am not sure, but I think it isn't great holding on to open cards that you never use for long periods of time? I too am looking forward to using rewards for a trip! Enjoy yours.
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