Wednesday, September 23, 2009

The Capital One Pet

Dave Ramsey has a quote about credit cards that hang around so long you think they're a pet! That is certainly where this one falls. I think we've owed on this longer than our youngest child has been alive...maybe even longer than our oldest child!!!

This is another one though that is not too high on my radar screen. The interest is fixed 4.99% because I opted out of a change in terms a couple of years ago. So once the card is paid off according to the original terms the account will be closed. The minimum payment is almost nothing, so I'm only paying about $11 towards the balance each month.

Thirty days ago, the balance was $1,129.26. The most recent statement showed a balance of $1,118.16. I calculated that at this rate, we'll have this paid off in 8 years. *sigh*

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