Day 277: To Vacation or Not to Vacation

I haven't really had much to write regarding our debt pay off journey lately. Since making a large, lump sum payment on my rewards card and doing a balance transfer from my high interest cards to the rewards card, we've pretty much been on auto pilot. I will see a raise on my first pay in April, and my husband's employer recently told him that they are actually planning on issuing raises this year, after stagnant wages for the past three years. My husband is also receiving a bonus on his second paycheck of every month, based on performance, so we actually have more money coming in.

However, for every positive movement in our finances, there is a negative. We received notice from our insurance company that they are nearly tripling our deductible and they are increasing our annual premium between 20-25%. I am currently shopping our insurance to other companies to see if we can get better coverage or better rates, or possibly both. I'm hoping, since I work for an insurance company, that my employer will be able to provide me a better rate than what I've got now.

Also on the home front, I am submitting a request to our county tax auditor for them to re-evaluate our taxes for 2010, so I can hopefully reduce our annual payment on that. If our home value is going to decrease over 20%, I would like to see a similar change in our taxes. I need to take the paperwork and have it notarized today so I can put it in the mail this afternoon It has to be postmarked by 3/31.

The biggest possible hindrance to our financial goals is our desire to go on vacation this year. We're discussing a week long vacation at the end of May, which will likely cost us in the ball park of $1500-$2000 for the week. We hadn't really been planning on it up to this point, however I think that my husband and I are both at the point that we feel like we need a vacation. We probably don't need a $2000 vacation, but we do need to get away from here for a little bit and take a break from work. I am trying to plan ahead for the added expense and pay off as much of our credit cards as possible before we go, so I don't feel like it's as much of a setback.

Anyway, we are just chugging along. I will update later this month with our revised debt standing.

260: Fired Up

I am so angry this morning.

I have banked with Kemba Financial Credit Union for seven years or so. I have always sang their praises, extolled their virtues, and recommended them to my friends. They have the highest interest rates of any local credit union, they've been easy to work with, when issues have cropped up with my account they've resolved them quickly. I have two checking accounts, two savings accounts, an IRA, a credit card, a car loan, and a CD with them, as well as having a savings account for each of my children.

I have never paid a fee with them, except when I overdrew my account.

Until this morning.

I woke up to find that they have implemented a new program called Kemba Advantage. It's great if you qualify, but apparently they now charge a "Kemba Advantage Fee" if you don't. I honestly never considered that I wouldn't qualify. Between the four accounts, I deposit close to $2000 a month into my accounts, and charge $300-$400 a month on my credit card. I don't use my checking account much, except to pay bills, but many of my credit card payments are drawn from that account.

The qualifications for Kemba Advantage are that you deposit your paycheck (at least $1000 a month), receive estatements, and have 15 transactions per month. In order to avoid a fee, you must meet these qualifications, or have an average daily balance of $500 in your checking account.

I had 13 transactions this month. So they took $14; $6.95 per checking account.

I'm ready to pull all of my money, close my accounts, pay off my credit cards, and transfer my car loan to our other credit union. I'm pissed. We don't have "a lot" of money invested, but it is growing on a biweekly basis.

I was so excited to do a balance transfer to my Kemba credit card and be done with my Best Buy and Target card. Now I've paid over $5000 on a credit card that I want to pay and close, leaving me with a high interest credit card instead.

I'm so angry.

I e-mailed their customer service and demanded the fee back. If I don't receive it back on BOTH accounts, I will be closing all accounts. Our other credit union doesn't charge fees. They don't pay as much in interest, but online banks do. Online banks pay more.

This is not how good companies keep good customers.