Wee haw!
So I just got off the phone with Mastercard as I decided that there was really no benefit from me having the fees associated with my card anymore. I was paying $99 a year to have the gold air miles Mastercard, and I was also $35 a year to have the lower interest rate from 19.5% (holy shit!) to (12.9%).
This may seem silly to some as such a small amount ($35) to have a 6.6% difference in interest, but I see it beneficial for a few reasons:
- not to carry a balance! I’ve worked hard to get the damn thing paid off, time to keep it that way. If I want to have something, save up for it!
- saving $134 a year to have a Mastercard which likely isn’t going to carry much of a balance from here on in seems stupid and a waste of money.
- that ridiculous interest rate of 19.9% is scary to me, it will make me very conscious of anything I put on my Mastercard.. saving is very much physcological I’m finding.
So yah, I’ll be doing a budget update soon as well.. but if you don’t carry any balance on your Credit Card(s), maybe it’s a good idea to find out if you’re paying any fees on them as it’s just a waste of money. Oh, and if you have more than one credit card.. you’re stupid. 