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One month and counting until snowballin' goes into effect!


damans
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The date is Nov. 15, 2007. My Bank of America Hawaiian Airlines Platinum Visa, the second credit card I received in college, was originally approved for a $5k CL and teaser 0% APR. Then, YIKES, I let this card eventually slip into a default APR. They sliced my CL from 5k down to $4300 and jacked my APR up to 30%!!!!!!!!! Well, after several calls, I finally got the answer that on Nov. 15, my account will have a year's worth of on-time payments and my APR will be diced to 15%! And.... (drum roll please!).... they will Auto CLI my card back to it's original 5k limit or higher, giving me at least $700 extra to pad my utilization! I'm so excited. Needless to say, I am very grateful for this board because without you guys, I wouldn't have realized the importance of my decreased limit, the APRs, everything else this site has opened my eyes to. Thank you CB!

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Thanks guys for the nice responses. Once this card gets sliced in APR, I'm going to continue making just above minimum payments on that card, but use the difference between that and what I WAS paying before the APR reduction and put it and even a little extra towards my Target Visa (900/1000), then roll it towards my Chase Student Visa (1,000/1,500). Each card I pay, keep using the same amount of cash but apply it to bigger and bigger balances, heres to being down at least HALF of what I owe now by May!!

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good job on being responsible for your debt i'm sure it wasn't easy with those rates but you may have learned a lifelong lesson that could have certainly been much worse imagine 30k in balances all going to default rates or a repo, foreclosure etc.

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Yeah, it's tough realizing what's going on, but I realize it's better to learn now than when my balances would have been doubled, or tripled...or yeah..forclosing on a house. This credit world scares me and I want mine under control. Got a ways to go, but working as hard as I can!

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Thanks guys for the nice responses. Once this card gets sliced in APR, I'm going to continue making just above minimum payments on that card, but use the difference between that and what I WAS paying before the APR reduction and put it and even a little extra towards my Target Visa (900/1000), then roll it towards my Chase Student Visa (1,000/1,500). Each card I pay, keep using the same amount of cash but apply it to bigger and bigger balances, heres to being down at least HALF of what I owe now by May!!

are they your cards with lowest balances? otherwise, i would pay off the lowest bal cards first (anything with less than oh, about 100 back when we were poor, 500 now), just to get rid of the puny payments and have 1 less bill to pay (then SD them until you have more paid) and use their payment towards the bigger ones.

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Yeah, unfortunately, these are my smallest balances, all the other cards are higher, but here I go, paying them down. It will feel good to have one less card showing a balances and be able to log onto my account and see a bunch of 0's for amount owed, balances, minimum due, etc. Can't wait! Have just the first charge and fee left on my Hooters and Orchard, both will be PIF at the end of this month and then left alone. That frees up 1,300 in credit. The Macy's and Bloom have nothing on them.

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