Hey,
I've got about 2,700 in cc debt. Annual fee, interest charges, the whole nine. I've got a good payment schedule. However, my interest rate is very high (22%). My credit has gotten much better since getting the credit card and it has definitely boosted my credit.
I'd love to take out a low-interest loan of $2700 from my credit union, pay off my card and have a monthly payment of about $140 for 24 months for the loan. The interest rate would be lower, there are no annual fees, no interest charges. Also, true, no access to credit in case of emergency. I think I'd plan to get another credit card in 24 months, under much better terms.
I don't care about having a credit card right now. I'd rather get out of the cc debt cycle. Is this a good idea? If it is, should I pay it off or pay it down and stop using it?
Thanks all
Submitted April 09, 2019 at 09:10PM by williasco http://bit.ly/2IjvWNI
