My Awesome Husband

So last July Steve got one of those 0% credit card transfer offers, which we gladly took and transferred our other cc balances to it. Well, do to error on our part we missed the first payment (yes sad, but true) and this resulted in our interest rate jumping to 32%. Yikes and holy moly….Well we have dutifully paid the amount owed, but let me tell you it hurt. Not because of being unable to afford it, but because seeing that much money go out the window pained me because I knew that the interest amounts that we had transferred from were much lower. It felt like jumping out of the pan and into a volcano, forget the fire. Every “money blog” or article recently has talked about how now is the time to refinance…your home, your car and your credit cards. On their advice I asked Steve to call his CC and to ask for a lower rate. I have called other cards and sometimes it has taken me saying to cancel the card if I can’t have a lower rate. Steve and I figured that if we could not get a lower rate we would pay it off with the tax return and cancel the card. I just got off the phone with him and I am not sure what all took place, if he had to pull out the “we will cancel” or not, but he got us BACK TO 0% until July and then it goes to 11%. Got to love it – He is good.
My goal is to pay off all credit cards and to cancel any that has an interest rate over 13%. I am going to see if they will lower rates, but I have no issue with canceling the cards. I know our credit rating will initially take a hit, but I think it will be better in the long run.