Thursday, September 29, 2011

Kroger Credit Card - 2 years later

This is the last priority on my list right now. Two years ago, this balance started at $958.23. The card has a high interest rate, but I love the rewards it offers and didn't want to quit using it. I earn $30-$40 of free groceries each quarter, plus I get discounts for gas purchases. I was able to pay the balance down below $700. Then each month I charge all groceries and gas and pay those purchases off before the due date. So I'm not really paying the old balance, I'm just paying for groceries and gas out of this month's budget. But since those are always more than my balance, I'm effectively getting an interest free loan on that money. Plus, I still get the rewards!!!

Right now, the balance on the "old debt" owed to this card is $622.93.

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