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One down...

September 12th, 2006 at 10:14 am

OK so one CC is paid off, this morning as of 9am. In 10 days I am calling to cancel it and tear it up forever! No more CC for me! Whoo HOOOOO!!! I cried this morning I was so excited at paying it off! Who ever knew gigantic things like paying off a CC would make me soooo happy? Smile

6 Responses to “One down...”

  1. LdyFaile Says:

    That's awesome! Just make sure when you call to cancel that the balance is indeed paid off. When I paid off one of my cards (I got a consolidation loan so it wasn't as exciting but it was in a way), my next billing statement showed a balance of $12. Since I do everything online, I saw the balance right away and took care of it. Granted the amount due, if any, would be small, I know they like to increase the interest rates of closed accounts with balances because they can. So just a thought.

  2. LuxLiving Says:

    Are you sure you need to close it? Sure it's a good thing to keep you from using it again...but closing the account does count against your credit score as you'll lose the reporting on your payment history for however long you've had the account open.

    I've just put my old ones in the safe.

  3. Bookie Says:

    Congratulations on clearing the account. That's awesome.

    Lux is right about the utility of preserving open accounts to maintain an on-going credit history. Plus closing a credit line impacts your credit utilization ratio negatively, which can be counter-productive. That said, I also understand the joy of slaying the credit monster by cutting it off at the source.

    You might like to leave it open, at least until you are further along on the path to freedom. Your call, but, open or closed, a paid-off account is cause for celebration. Wink

  4. debtfreeme Says:

    closing it is against my advice beause of how it affects your credit score, but if you cancel it, you need to make sure that they are going to state on your credit report : CLOSED at CONSUMERS request, other wise someone who is reading your report might read it as closed by the company and that is bad for your score.

  5. lrjohnson Says:

    I am very happy for you. I totally understand crying with the joy and excitement. Good for you!

  6. Broken Arrow Says:


    Great feeling, isn't it?

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