One year later and not much progress
It is a few days past the one year anniversary of the iWillBeDeptFree.net blog and I decided to tally up my credit card dept and check the progress after 12 months.
I am very disappointed. After checking the numbers, I now have $15,773.94, which is only $479.69 less than the $16,253.63 that I had on May 12, 2009.
This is where I stand on May 17, 2010
Chase Visa $2,230.31
Discover Card $8,832.22
Bank of America $4,711.41
Total: $15,773.94
And there is what I had on May 12, 2009
Discover Card: $7,235.97
Bank of America American Express: $4,736.97
SST Visa (formerly Sharebuilder Visa): $1,230.15
Chase Visa: $3,050.54
Total: $16,253.63
The bad news is I added $1,596.25 to my Discover Card account. This is a high-interest account. I am paying out 27% interest to this company. I need to review and see how this money was spent. I recall using this account to pay off my cell phone and cable company bills. I will analyze my account and detail my mistake in another post .