General Goals 1) to be debt free in 3.5 years 2) save lots of money

Friday, April 1, 2011

Line of Credit Update

Did you know that "there are two credit cards for every person in the United States" and that's no joke, not according to my Weird Facts App on my ipod.

I called TD yesterday to get an update on my Line of credit. But they hadn't added the interest so it wasn't a completely accurate amount. So as I write this preamble I am on hold waiting to get the exact figure.

This month I put in:
 March 14~ $300
March 28~ $8.53
March 28~ $400.00

Total paid: $708.53

Daily interest for the month of March: $3.86
Total interest paid in March on my LoC: $119.84

Current outstanding balance on LoC: $-30,995.09

This month I put: $891.08 extra into student debt
Math brake down: 182.55 (extra into OSAP) + 708. 53 (LoC) = $891.08

Now that I have the updated number time to update the side bars.


  1. Funnily enough (is that a word?) I have exactly two credit cards in my wallet. One is a ScotiaBank Value Visa with a nice low interest rate, somewhere around 9%. It has a zero balance. The other is a President's Choice Mastercard which I use to buy everything and then use the points for extra stuff I need at the Superstore. So far over the past two years I've been able to purchase close to $400 of free food/toiletries/clothing/electronics etc - it's the best card - no fees, have never paid 1 cent of interest. As soon as I use it I go home and make a payment online.
    I don't really know why I keep the Visa since I only use the Mastercard. I've had it forever and just don't want to part with it. I've never really had credit card issues - too scared to incur debt. Perhaps when I'm debt free I'll have a card-cutting party!

  2. Yes its a word! Good on you for making the points work for you!