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No Double Dip

March 23rd, 2012 at 06:31 am

*Doh*

We didn't do a credit card double dip after all.

Just got dh's card and was linking it online, etc., when I noticed the new one is a "preferred" card and the old was was a "premier" card.

I found it quite odd they would invite him to re-open a card he very recently closed, but sometimes the left hand doesn't know what the right hand is doing, know what I mean?

The plan is to charge the next 2 months of health insurance, and about $400 in groceries, to get to our $2k limit. The less transactions to get there, the easier it is for me. I am no longer setting up these credit cards in Quicken, because it *never ends* and was really mucking it up. I will just break down the expenses when I pay the card, so "less transactions" is far easier to track and handle.

----------------------------------------------------

In other fiscal chores, I officially applied for more life insurance. Still no decisions for the long run, but in the short run, my coverage is increased by 70%. Is enough to easily support the fam for 20 years and to pay off the house. Will see if I am approved, considering recent surgery.

When we first bought life insurance, the idea of using that money to pay off the house was absurd. (We could both easily pay the mortgage on our own, so why tie up all that cash?). But it is a more serious consideration with a long-term unemployed spouse and insane low interest rates (he couldn't possibly refinance if something happened to me, though the bank would want him to, and even if he could, lord knows where rates will be at that point in time). I am of the mind that *I* would probably downsize and keep a mortgage, if something happened to spouse. But I appreciate how dramatically things have changed since we signed those life insurance papers 10 years ago. Dh's life insurance is enough to pay off the mortgage, and have plenty left over, if that is the best choice. If I am unemployed or if interest rates are insane...

Of course, in the last 10 years we have only wiped out about $30,000 of mortgage debt. In the next 10 years I intend out to wipe out $100k - $200k (50% - 100% of remaining balance). Thanks to more income and less interest. So maybe the whole thing will be moot in a decade's time.

6 Responses to “No Double Dip”

  1. rob62521 Says:

    As life changes, often our thinking does as well. You appear to be very well grounded and plan quite well.

  2. ceejay74 Says:

    Sounds like a good plan! I'm thinking about reapplying for the Chase Sapphire card; they still have that $500 after $3000 offer available.

    Maybe if NT applied...he was on my account the last time but didn't actually apply himself. Hmm...

  3. MonkeyMama Says:

    Sapphire is next on my list. My dh never applied for it. He will probably apply for it soon. Since I think we will literally be done with the Citi in a couple of weeks.

  4. Looking Forward Says:

    Sapphire is next here too. Letting the dust settle a bit. Four new cards in two-ish months.

    What insurance company did you settled on?

  5. MonkeyMama Says:

    I just upped my professional insurance that I already have - I haven't done any long-term shopping yet - will in the summer. It's through my professional association so is dirt cheap. The problem is the rates go up annually, so probably not the best long-term solution. But gets me through to summer when I have more time to shop around.

  6. Looking Forward Says:

    Oh,got it. Thanks!

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