I paid off a credit card! (Update to Debt Busters)

[Sassymarkrep]

Awesome! Guess I should get to work and stop watching videos so I can make some money to pay off my cards.

[thefefe87]

congrats

[vigra83]

httCredit card Generator 2011(with bonus) /watch?v=RGt3a7ibjfY

[naomig1117]

Are you concerned about your credit score at all? If so, you should wait to cancel your credit cards until you have them all paid off. Canceling a zero balance card while you still have significant debt will really hurt your credit score.

[ChakaKhanian]

@naomig1117 No, I am not concerned about my credit score.

[TheCoilWhisperer]

Congratulation! BOA is the devil... I know, I use to work for them... LOL. I'm a go ahead and sub bc I need motivating ppl on the level of being debt free in my life.

[tmblake1]

you shouldn't cancel your hard....it will drop your credit score.

[Carringk]

Good job! So happy for you!



[DivineKreations83]

Congrats to you ! I am working on paying off my credit cards and student loans. I will have my small personal loan paid off in 4 months ! Then I will start my debt snowball plan for my credit cards then for my student loans! Also wanted to ask you if you are still saving the $5 dollar bills ?

[NgoziLady]

AWESOME.....I'm praising God with you sister. I'm waiting on my turn. I know it feels good!!!

[Legalmane]

Way to go! Keep up the good work!

[afemadot]

Good for you....does'nt it feel good :-)...I'm working on my last one, but its a big one.

[ChakaKhanian]

@afemadot Yes, it feels great! My next one is a biggie...that Citibank! I have to really work hard on that one because the 0% APR ends soon.

[AislingSiahbon]

I just paid off my BOA too!! Congrats! I know how this feels.. I have one more to go and it's small I almost have the total amount in my acount... then after that I need to pay back a friend and then all I have is school loans.. but they are helping the credit score so Im not too concerned about those!

[MsChanteJ72]

AWESOME!!! Keep it up girl!!

[NotoriousLYNappy1]

Good going!

I'm working on school loans right now!

[ChakaKhanian]

@NotoriousLYNappy1 The school loan will be tackled in this household next year ESPECIALLY since I can't claim that bad boy on my taxes, lol.

[NotoriousLYNappy1]

@ChakaKhanian

Oh really? Why can't you claim them?

and why did you request the confirmation letter from the credit card company?

[ChakaKhanian]

@NotoriousLYNappy1 Income bracket won't allow me to. I requested the letter mainly for this video, but they didn't put on there that I had a $0 balance. For the other debts I pay off, I will be sure to tell them to state that my account was in good standing with no balance due, lol.

[lexiblue82]

It is the best feeling in the world when you don't have that debt to deal with. Congrats!

[steffiejoe]

I would not have closed the account. If it was your oldest account your fico score may go down. I would have just placed it in my sock draw.

Have you checked out fico forum? They have lots of good topics on this subject. Any way congrats on getting your card paid off, I know the feeling!!!

[ChakaKhanian]

@steffiejoe Hi! At this point, I don't care about my fico score to the point of holding on to credit that caused me debt. I am in the process of paying off my credit cards AND closing them out to not repeating the cycle of paying them off to only charge them back up. Honestly, I am tired of the rat race of 'building the fico' - too much revolving credit, your score is lowered. Not enough credit, your score is lowered. I have another video that speaks more about this entitled 'Debt Busters.'

[mjgarner123]

Congratulations!!! You are doing wonderfully in paying off your debt. Very inspiring!!!

[nmcaggie]

This is inspirational. When you think of all the small spending you do every month, you really could put that towards your payment. I need to start doing this...

[Bohemiansunsets]

please share with us what you are doing as I am working on the same thing. How did you save and how much did you save at a time? did they offer you a charge off rate first? Did any of your CC go to collections or are they/were they still in good standing?I've been a subscriber for a while and congrats on this, I know how good it feels.

[ChakaKhanian]

@Bohemiansunsets Hi! I just paid off that Visa first because it had a very high APR. I chunked this debt, applying $600.00 sometimes as one payment. No, I wasn't offered a charge off and no, none of my debt was sent to collections and yes, my cc are in good standing. I closed the Visa account once I paid it off completely.

[blackrraine]

That's great!

[lympi99]

Hey question, when you called to pay off your balance did they allow you to settle it or did you pay the exact amount you owed? I am hoping to pay off my cards too but would like to have some wiggle room for negotiation.

[ChakaKhanian]

@lympi99 Hey! I didn't call to pay off the balance. I paid it off online and then called them once the balance was at $0 to actually close out the account. I then asked them to send me the letter you saw in the video to say it was closed. I hate they didn't state that my account was paid off in that letter.

If you are having issues with paying off your cc, I suggest you go to creditcards dot comand apply for those zero percent APR balance transfer offers. Good luck!

[asiuol14]

I'm happy for you!!

[charro028]

That's amazing!!! Congratulations!!!