I'm a little late with this, but I wanted to post the recap of our credit card debt totals for the month of March. At the start of 2011, we had $13,402.24 in credit card debt that we're committed to paying off as quickly as possible.
At the beginning of March our credit card totals looked like this:
Chase 1 - $8,352.45
Chase 2 - $0
CitiCard - $3,518.25
Total - $11,870.70
And then at the end of March, our totals looked like this:
Chase 1 - $0
Chase 2 - $0
CitiCard1 - $3,682.25
Citicard2 - $4,197.25
Total - $7,879.50 - CAN YOU BELIEVE IT!!!!
In the month of March, we paid off $3,991.20 worth of credit card debt!!! We truely kicked butt last month. If you missed my post on how we accomplished this and why we now have an extra credit card, check it out over here.
To sum it up - we used some savings to pay off the CitiCard1, then took the (12.24% interest) Chase1 card and transferred part of the balance to my CitiCard1 for 0% and another part of the balance to Hubby's new CitiCard2 for 0%. Oh, and we used some of the savings to pay off the remainder left on the Chase1. Got it?
So anyway, we now have an extra card but the only two cards with balances are both at 0% - one for a year and one for 18 months. So that's good. Now we are focusing on replenishing our savings and only paying the minimums on those two cards for a little bit. Once our savings is in a good place, we'll get back to paying off debt at a quicker rate.
To see my previous posts about our debt payoff journey, go here.