<< Back to all Blogs
Login or Create your own free blog
Layout:
Home > Dear hubby's great credit score got him those rates...
 

Dear hubby's great credit score got him those rates...

October 14th, 2006 at 01:02 am

I have been in charge of my husband's credit cards for a month now. He is bad with money, really bad, and got all four of his cards maxed out, some over the limit (=fees), making late payments (=more fees). Two of them are secured cards, and one come up with little charges like "Account Maintenance Fee" (add me some more fees, will ya??). The end result isa mess.

CC#1 22.9%, 66.5% balance to limit
CC#2 21.0%, 84.7% balance to limit
CC#3 24.0%, 71.6% balance to limit
CC#4 27.75%, 57.4% balance to limit

The limit of each card is either $400 or 500, so not THAT high, but it adds up.

Goal: have them all paid by January.
Plan of attack:
- CC#4, which is also the one with the maintenance fee, will have to go first. Balance is "only" $230. I can probably have it paid this month

- CC#2 had a Late Fee posted to it 2 months ago. I want him to call tomorrow and have it refunded if we make a $120 payment this month. I have had him play this little game this whole month of calling them and remove fee for extra payment. It's worked pretty well so far!

- I will make more than minimum payment on CC1 and 3, and they should be gone by December.

So that's my plan/strategy

6 Responses to “Dear hubby's great credit score got him those rates...”

  1. Broken Arrow Says:

    Gasp.

    Hard to believe I was like that once. Now, people would have to force me at gunpoint to carry a balance....

  2. PRICEPLUS Says:

    FIsrt don't use them. Pay off the first one as tyou planned and pyramid the payments as you pay the cards off. I hate CC's!

  3. Lau Says:

    PricePlus - The cards are cut up already... no more using them, even if we wanted to, which we don't

    Broken Arrow - the balance carrying over was not supposed to happen, but.. well, you know!

  4. PRICEPLUS Says:

    Good luck with paying them off. I have been living the CC nightmare for quite a while now!

  5. tinapbeana Says:

    good for you, lau: i always like having a 'strategy' in place Big Grin seriously though, i'm fighting my DH's CC issues right now, too, and can feel your pain all to well. is your DH a spender too? perhaps we need our own thread "Spouses of Spenders Anonymous". then again, SSA could be mistyped, and that just would *not* look good!!

  6. Lau Says:

    Thanks PP... (Can I call you PP?). It is going to be a pain for the next 3 to 4 months. less than that if I can help it.

    LOL Tina... To answer your question, my husband is not necessarily a big spender. He's just a "f... it" kinda guy. He knows he shouldn't spend, but get frustrated, spends, and regrets it afterwards. He figures he'll think about how to fix the problem later instead of just not creating the problem right now.

Leave a Reply

(Note: If you were logged in, we could automatically fill in these fields for you.)
*
Will not be published.
   

* Please spell out the number 9.  [ Why? ]

vB Code: You can use these tags: [b] [i] [u] [url] [email]