paying off credit cards

stevierayp · #1 Dec 26, 2007, 07:58 PM

I have a several credit cards with balances between $340 and $1300. I have these cards with no interest for about another six months.
Should I take money out of my savings to pay these cards off now, or wait til I am closer to the end of my 0% introductory rate?

val21 · Dec 26, 2007, 08:25 PM

Hi you could try paying one off. And the other one later.

vacwm · Jan 10, 2008, 10:55 AM

i believe it depends on your habits. If you think that you can manage your credit card debts wisely, there is no reason to pay them off now. However, if you think that when the 0% rate is about to expire, you would have blown your extra cash away, pay them off now. You should always pay your most expensive debt first. So if you have any other debts (loans etc...) you might want to consider that.
In any case, paying your credit cards off as soon as possible is always a good idea, as time will pass by quickly and next thing you know, you still have balances owing.

stevierayp · Jan 10, 2008, 08:22 PM

Thanks for your answers, most appreciated..



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