The Kroger credit card is the one I use for groceries and gas to earn free groceries and the 15¢ off per gallon of gasoline. I pay these charges every few days out of my current month's budget so I'm always paying at least the balance on the prior month's statement and therefore avoiding any interest charges on this card. The rewards are nice and Kroger is letting me float this balance without costing me anything. I added a $3 payment I got from Buzzback (surveys) to one of the payments this month.
$3.00 paid. New balance = $624.93
Chase Card #2 has been transferred to the HELOC, but I'm keeping up with the balance separate from the HELOC balance. This portion of the equity line was not converted to the fixed amortization and the interest rate is prime minus 0.5% (currently 2.75%). It also only requires an interest payment each month, but I've been sending an extra $20 or so in addition to the interest.
$20.13 paid. New balance = $2551.19
STRETCH FOR THE POSITIVE: Ok...it's a stretch, but I'm determined to quit being so negative and look for the positive in every post. If I divide the monthly interest charged ($5.93) over the average balance of these two debts ($3,187.69), it works out to less than a 2.25% annual rate. Not bad!!!
any decrease is amazing! just think of it that way :)
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