Saturday, May 02, 2009

TD credit card is paid off

Some updates on the credit cards. In my latest TD visa statement the card is now paid off. That's good news to finally have that done. It took a while and it was hard but now it's done.

So that's the end of the "plastic" part of the credit cards. Unfortunately there's still some consumer debt still to be eliminated. There's about $5500 left on a TD loan which was transferred over from credit card. So that's credit card under a different label. I don't have a timetable for it to go away. The payment is $210 a month so it will be good for that to be done with. I can use the payments I was making on the plastic cards to help pay it off faster. Debt is slavery.

Still the elimination of the plastic card balances is an important milestone. I have a little treat in mind to mark the occasion. More on that when it happens.

With the TD emerald card paid off I have made a change. I've canceled the TD emerald card. I've replaced it with the GM Visa card. They gave me $1500 to start out. With the TD emerald card canceled they may increase the limit in the coming months, or whatever. By switching to the no fee GM card I skip the $25 annual fee on the other card. So it's a good move. I don't care about the 20% interest rate since I have no balance and no plans to carry a balance. I had a GM card long ago in the past so this is again a way to break from the old ways financially and move forward in a new positive direction. I'm still with TD though as they've always been good to work with over the years.

So I should be set for now with credit cards. Depending what happens to GM I guess. With the National Bank Mastercard and the TD GM card I don't expect to be adding or deleting any credit card accounts in the next while.

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