Hi.

So I have been carrying some credit card debt for a while now. It doesnt really hurt me because they are on 0% APR accounts. But it just bothers me that I have the debt. Also the 0% is going to expire soon. I have more than enough money to pay off the debt at the moment, but that money is earning interest in another account.

Should I go ahead and pull money out of my savings to pay off the debt. Or should I keep the money in my savings, and just be a little more cheap with my spendings and pay off the debt in bigger portions monthly. But at the same time, probably being charged for interest.

:wavey:

 

i'll hold the money for you

 

Might as well. Having debt on a credit card isn't necessarily a bad thing. Might as well let money earn interest while you can

 

I think you should pay it off faster if you can't generate enough interest in the savings account to offset the interest from your credit card.

 

You need to read more carefully.

 

if cc interest > savings interest, then will = lose.

 

how much interest is the creditcardcharging you?
how much is the savings assount?

why did you not invest the money in a better investement then a savings account? is there a reason for it?

can you get another 0% financing on an other credit card?

 

0% APR will end before I am able to pay it off without doing a thing to my savings (withdrawling and continue to contribute the same amount).

 

:werd:

That really is the bottom line. :hs:

 

Typical retarded rate....after the 0% promo, probably 15% +.

More than enough is in the savings to cover the debt. Itll take up maybe half of the money in the savings account that I am willing to touch.

I dont know how to invest. I am afraid to lose money. I dont make enough to start a real portfolio or whatever those things are called. Give me 6 months. :hs:

I can get another 0% card easily. But getting another one will just keep me from paying the damn debt off. :hs: Unless I just really focus on paying it off this time :uhhok: