Is roadster the most idiotic poster on this forum?
Nearly 15% APR???
Hold it as 'savings' mate. It's a no-brainer.
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Previously on "I have a £2800 CC bill I can pay off nxt week..."
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Yes. Pay it off.
If you have an offset mortgage draw funds from that if you need to it is much cheaper debt than a credit card.
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Originally posted by bellymonster View PostPay it off, I started down the road of 0% credit cards 8 years ago and have built up a sizeable balance since then. Still on 0% but it has grown too much and now I have vowed to get it down by 1k a month.
However if you do need 0% take a look at CapitalOne as they give 6 months and I beleive they dont charge a transfer fee.
I'm paying it off due to their PHISH! call center
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Pay it off, I started down the road of 0% credit cards 8 years ago and have built up a sizeable balance since then. Still on 0% but it has grown too much and now I have vowed to get it down by 1k a month.
However if you do need 0% take a look at CapitalOne as they give 6 months and I beleive they dont charge a transfer fee.
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Pay it off dude. Make things easy for yourself, don't buy anything unneccessary while you're on the bench. Stop using your credit card as well, you're just delaying the inevitable...
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Originally posted by roadster198 View PostHowever I'm also on my last day of the contract to-day.
I have the money to pay it off without harming the backup fund.
Should I do it or keep paying the min amount until I get work again and then pay it off? The APR is 14.9 or something.
I'd feel like I'd achieved something if I pay it off next week though
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Originally posted by expat View PostWhat would be the reason for not paying it off?
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Originally posted by roadster198 View PostHowever I'm also on my last day of the contract to-day.
I have the money to pay it off without harming the backup fund.
Should I do it or keep paying the min amount until I get work again and then pay it off? The APR is 14.9 or something.
I'd feel like I'd achieved something if I pay it off next week though
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Can't you do a balance transfer onto another card at 0% and then pay it back slowly whilst you're on the bench?
I see virginmoney are still offering a card with that facility for 15 months.
I thought those crazy deals would be long gone with the credit crunch.
Depends on how big your bench fund is. Personally I'd pay if off if I had the cash.
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Find a 0% interest credit card (if such a beast still exists), transfer the balance into it (taking the 3% fee hit) and then stuff the cash into a fixed deposit for the length of time the 0% lasts, paying the minimum each month.. Then, when the fixed deposit matures, pay off the balance on the card..
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Pay it off now. Otherwise you will still be paying 14.9% APR until your next contract.
Worse case scenario you pay it off and then have to borrow again. At least the APR will be on a smaller amount of money borrowed so lower payments and less money lost on interest.
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Pay it off... it will make you more hungry for work.
After all this time I can't believe I've still got debts, then I think back and realise we have 2 newish cars, nice house, lots of luxury holidays etc etc... all the things we never had when I was a permy.
Expenditure rises to exceed income and all that.
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Financial matters have never been my strongpoint
I'll pay it off then thank you
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At the risk of getting told off - this is what the dense cliche ridden Amercians would call a "no brainer" isn't it? There's no way you could make 14.9% on the cash - or probably even the monthy equivalent so it makes sense to pay it off - innit, like WHS, OMG
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