Sunday, September 07, 2008

Officially Official

Our last credit card is dead*.

* - Ok, technically I will continue to use 2 cards for monthly expenses in order to collect a cash back reward. However, these cards are paid off in full each month. We have not rolled new credit card debt in several years.

The balance is negative because I anticipate a few more dollars of interest being tacked on due to the average daily balance, so I overpaid a little bit.

My Saab was sold two weeks ago, which is the primary reason the credit card is now done. It turns out that getting a large check deposited at Fifth Third is a surprisingly lengthy process. When I made the deposit, I was told that because this was considered a "large" deposit, it would take a few extra days to clear. I didn't think too much about it. A couple days later, I received a letter from the bank informing me of the date the funds would be available... a week later! I could understand if this was a personal check, but it was a cashier's check from Chase Bank. There is no reason for the process to take this long.

Bottom line it took two weeks from the time I had check in hand, to the time the credit card balance was paid off. That was a long, anxious two weeks.

This is the first time since I first obtained a credit card that I do not have any rolling debt. So a solid run of close to 15 years of living beyond my means has come to a close. We can now turn our attention to Teri's student loan and our mortgage.

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