Hey everyone,
I have about $11,000 in statement balances across several credit cards, all with around 24% APR. This balance accumulated while moving across the country for a new job. The balance won’t be due until the end of the month, so no debt yet.
My new job offers a significant pay increase, and my relocation bonus will more than cover the statement balance. The only issue is that I won’t receive the bonus until I start (stupid isn’t it?), and I likely won’t be on the payment cycle until early next month, which is after the due date. I want to maintain good credit, as I have never missed a payment nor has my credit utilization been this high. As such I am considering a personal loan to pay off the statement balances as I could repay the loan in full with my first paycheck.
Would this be a good option, or would just taking the credit score hit make more sense? TYIA!
Submitted October 13, 2024 at 01:28AM by Jazzlike_123 https://ift.tt/3Z2bEnS
