Mar
Hasta La Vista, Visa!
I just closed two paid-off Visa accounts. One has an annual fee of $75, so I can practically feel the money back in my pocket. We had kept this card around a long time because it was linked to a favorite airline and we got a $50 companion fare annually as a benefit of being a cardholder. This year they eliminated that benefit and incidentally, it came up in our snowball, so we just nixed the thing.
One card left—a MasterCard at 8.9%.
We thought the balance on our last card would be $7950 this month, but it’s actually, still at $10,000. While our high February income was expected, we had some major expenses that were not—a veterinary bill, major office equipment repairs for our small business, some home repairs, and an unplanned auto repair all totaling $3,000.
I must say, I’m pretty jazzed that we could cover all of that out of cash without touching our emergency fund and we still made large (albeit not gigantic) payments on our snowball.
Our March income looks like it’s going to be much better than our usual income, so we believe we can make up the difference this month and still be on track for a July payoff.
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