Citi Forward APR

The folks at Citi have decided to increase the APR on my new Forward card to 36% (currently 0% for 6 months). The PremierPass remains the same, around 15%. 36% APR on a balance of $3000 means I will have to pay $90 in interest every month! I refuse to pay that much so hopefully our balance is paid off before the promotial 0% ends.

Now here is something interesting, I could transfer the entire balance back to the card every 6 months by doing a balance transfer to myself and paying a 3% fee. One of the options below is to put money on your bank account and manage it any way I want. Citi even offers next day direct deposit to my bank account. On a $3000 balance the cost would be $90 but 0 in finances charges for 6 months!





I can also transfer money from the PremierPass card to the Forward card for the same fee and enjoy 0% apr for 6 months.

Hopefully I don't have to do all this since my balance will be paid off but this is a great way to avoid paying close to $90 every month in finance charges.

HS

Credit Card Debt Update

Quick update, Discover still has a zero balance. The account is open, I still need to call and cancel.

I cancelled our Citi Professional card since it was a business credit card and my credit line was only $2700. I applied for the the Citi Forward Visa card and got a $7,000 credit line. I also received $100 dollar gift card for applying and signing up for electronic statements. My other Citi card, PremierPass is still open. I plan to keep this account open with a $0 balance since my limit on that account is $29,000.

The bad news about Citi Forward is that we been charging things, the balance is over 3500!!



As summer comes to a close and we spend less, my goal once again is to reduce debt. I'm hoping to pay at at least $1,500 this month to the Citi Forward card. Hopefully I can have this balance at $0 in a couple of months.

I also charged $150 on my Best Buy credit card and the wife charged around $200 on her Macy's. I need to pay this down before the fall, I might take that money out of savings, haven't decided yet.

I swear, every time I'm out of credit card debt I find myself right back in to credit card debt! maybe I need to listen to Dave Ramsey and read his book again.

HS

AIG Stock

This morning I lost $200 dollars trading on AIG! I'm used to making gains in the market so this one hurt! AIG stock gained 67% yesterday so I was hoping to make a quick 10% gain today but I bought at the wrong time and my broker Scottrade put in 2 orders instead of 1, so I ended up buying more shares than I wanted. Long story short, I'm down $200!

The stock is moving upwards again this morning but I think I'm done trading this week.

Hope everyone is having a good day!

HS