My St Johns River

CHOP CHOP CHOP!

myadmin, · Categories: budget

Thats the sound I just heard as I cut up two credit cards.
Bye bye First Premier Bank Cards!
Bye bye horrible interest rates (25.99%)
Bye bye annual fee ($79 per card)
Bye bye monthly servicing fee ($6 per card)
…. that chopping yields me $302 extra dollars per year. Yeah that’s right – it was costing me $302 no matter if I borrowed a dime on those awful cards.
They were all I could get in 2008 when I thought I needed them to “fix my credit score.”
I remember in 2009, after my score shot up I called them and asked for a credit increase (because I learned that the higher my available borrowing power, my score may go up more… which by the way, is backwards reasoning). They said, no we can’t increase your limit, but we’ll send you another card. So yeah, that meant another annual fee and another monthly servicing fee. Ha! But I did it, thinking at the time it was a smart move.
Chop chop to that mentality too!