Unraveling Money – My Exploration of Personal Finance and Productivity

June 16, 2009

The day of beating down the doors of various financial institutions

Filed under: Debt — unravelingmoney @ 5:07 pm

Inspired by Ramit Sethi’s great book, I went on a financial-institutions-rampage. No, I didn’t show up with a weapon, I started calling, and I probably spoke to 10 different customer service agents in order to accomplish the following:

– Got the APR on my oldest card reduced to 7.99%

– Found out the the APR on my card with the highest balance got moved back up to 12.6% even thought it used to be 6.99% because I missed a payment (but I got the late fee removed on that back when the incident ocurred)

– Got a balance transfer offer of 2.99% on my oldest credit card that is good for 14 months – they had a 0% offer but it was only good for 2 months. Got a credit line increase so that I can transfer more away from the high-interest-rate card. Sure, credit line increases aren’t great – but I fully intend on paying off my debts and then having the limits reduced again.

– Set up a new IRA with Schwab and rolled over an old 401k account I had with my previous employer

– Inquired about a personal line of credit with my main bank to assist in paying off credit cards, but declined as soon as they told me the APR of 15%! My credit cards are lower than that…

And in between some of this, I actually did some work. You know, for my real job. Which pays me…


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