Sunday, February 26, 2012

Holy cow!

Ok, that's a slightly toned down version of what I actually said to Fiance, but I was super excited! So, I get a lot of credit card offer junk mail, just like most people, because I make a good income and my credit score is quite good. The problem is that because of my debt, I don't get approved for these "preapproved" cards. Every now and then when I'm feeling more positive about my debt, I try to apply for one, and then I get said because I get turned down. Since I have one card left that's at a regular APR, I could really use a nice 0% balance transfer.

Yesterday, I got some other good news - I have a plastic business credit card that I use for my business which has only a $250 limit. Yeah, I wasn't terribly excited about the limit, but I was happy that I was able to get approved for ANYTHING. But yesterday I got a thin letter in the mail from the card issuer - and while usually the thin letter means "We're cutting your limit" or "We've cancelled your card" or "We're jacking up your minimum payments" (thanks a bunch, Chase!) this particular thin letter said, "We're raising your limit to $1,000." Awesome! I was really quite excited about this, because a card with a $250 limit is not much fun when the business charges over $800 a month, and so I had to pay it off over and over, sometimes twice a week, to keep from going over. So this was very good news.

Feeling more positive about my credit after getting this news, I viewed my latest junk mail in a new light. And it had a 0% balance transfer for a year offer. Seduced once more by the "preapproved" note, I applied once more. And lo and behold I actually was approved! I put in a balance transfer for the Discover - I was only approved for $2,000, but hey, I'll take it. I really didn't believe I'd gotten it until I'd actually gotten all the way through and created an account on the website and seen the credit limit.

I'm pretty psyched. I have a bunch of other expenses hanging over my head right now ($1,500 to repair the car, at least $1,800 in medical bills) so I was feeling pretty low about my financial situation, and this was just the good news I needed. It's not really that this is going to help all that much in the grand scheme of things, although I will certainly be glad to save on some interest charges, but more that it's a sign that my credit is getting better and I might be able to rejoin the land of the normally-financed at some point soon.

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