Our store credit cards are back

by J. Money -

UPDATE: As of 6/23/08 – NO MORE DEBT!
*For details on how i pulled it off, check out my Zero Credit Card Debt post :)
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I’ve had zero store credit cards for years, but lately we’ve been picking up a few. I guess it can’t be that bad as they’re all at 0% APR right? Another thing to keep in mind is that Mrs. Budgetsaresexy will pay for her half of all this ;)

Here’s what we got:

1) Helzberg Diamonds – $1049.96: Picked up 2 Wedding rings. The sucky part is that i literally JUST paid of my fiancee’s engagement ring (whew). Ah well, that’s life eh? The prices were great though, and the credit deal even better – 0% APR for 1 year. The goal here is to pay off just enough each month so that at the end of the road we get the balance knocked off.

2) Juniper – $1530.16: Our brand new iMac! It’s so H-O-T. Got the upgraded memory, and nice sized screen, + a free printer. We didn’t *need* this per se, but it def. helps having a home computer now that’s brand new and fresh. I’m a graphic designer and my girl’s a song writer/singer, so this should def. help motivate both of us. This will also be our last major purchase now that we have our finances in order, as well as a house for that matter. yikes.

3) Express – $93.33: This one is temporary as they were having a helluva deal man. First off, everything i bought was 60% off original prices. THEN, on top of that, there was an extra 10% off for some reason, and then ANOTHER (can you believe it?) 20% if you signed up for a card. Soooo, here we are … 3 T-shirts, 2 hoodie sweatshirts, a pair of jeans, and a pair of socks later :) *This will be paid off by the end of the month, and then closed out 100%. no tempty tempty for me.

4) NEW! “House Credit Card” – $4180.10: This is at 5%, not the worst, but still not at 0%. There was no way around this bad boy though, our wedding budget got a bit crazy and the cash flow couldn’t be timed right – thus, forcing us to throw some huge chunks of it on here. This will be the 1st to be paid off after our wedding

TOTAL: $2,673.45 $6853.65 $0.00

My goal is to have this paid off by end of 2008. I’d normally pay off first, but since it’s at 0% and Operation Heloc has since been stomped out, I gotta breathe life back into my Emergency Savings stat.

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Bonus tip: Find a good "balance transfer" offer to help pay off debt faster!

If you’ve been making payment after payment (on time) and still haven't been able to get your debt under control, snatching up a good balance transfer credit card offer may be the ticket to try. That’s where in order to gain your business - credit card companies will let you transfer your existing debt to a new card and let you pay ZERO PERCENT interest on it. Saving you tons every month!

What's the catch? Usually balance transfer cards charge a fee (around 3% of your debt balance) to let you transfer your balance to their 0% interest offer. But we've found a great credit card that will let you do a balance transfer absolutely free. Click here to learn more and see if you qualify!

PS: If you don't trust yourself with another credit card, ignore this! This strategy is to help you get out of debt quicker, not risk adding more to it.

Jay loves talking about money, experimenting, blasting hip-hop, and hanging out with his two beautiful boys. You can check out all of his online projects at jmoney.biz. Thanks for reading the blog!

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