PinchingPennies

Saving money to pay off student loans and consumer debt

AMEX is Paid Off!

Hurrah for tax returns! I just sent off a payment to AMEX that brings our balance down to 0 and frees up $100 a month for our debt snowball. Dave Ramsey is right about how good it feels to pay off a debt and have one less payment each month.

Husband pays for the AMEX card out of his account so I will have him redirect the $100 per month to the car loan.

May 15, 2008 Posted by | Credit Cards | , , | Leave a comment

AMEX Lowers Our APR and Refunds 3 Months Interest

Husband called today to ask about the interest rate on his AMEX card. It has been pretty high for a while because he would pay late occasionally until he set up automatic bill pay for the minimum amount. After a minimal amount of nagging, husband called to ask them to lower the interest rate.

He calls and asks, “I want to find out my interest rate.” That is it. AMEX customer service goes into Defcon 1. The cs person looks at the interest rate, lowers it 10% and apologizes. Then he offers to refund the difference in interest rate for the last 3 months. The refund will be applied in 24 to 48 hours and then I will have a payoff amount for the card.

Doing a happy dance. *yay*

May 8, 2008 Posted by | Credit Cards | , , , | Leave a comment

$1000 Goes To American Express

I just sent $1000 off to AMEX to pay down husband’s credit card. Although the new balance looks pretty nice, sending $1000, even electronically, is psychologically difficult. Now I have a little more than $8000 in the savings account which will go down quite a bit once we decide what to do with our car.

Someone offered us $5500 for the car today which is about $3000 less than we owe. Ouch. We might be keeping this car for a while. I’ll list it on Craigslist and see what happens.

March 28, 2008 Posted by | Car Loan, Credit Cards, Debt | , , | Leave a comment