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Best credit card to pay off car loan.

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Anonymous
Not applicable

Re: Best credit card to pay off car loan.

have you considered refinancing for a shorter term and lower APR? based on all that if you're spending anywhere close to $300-$400 for that $7k then you're at a high interest rate or way too long of terms. if you can reasonably get it paid off in 18 months then do a refi for that term and lower your interest rate. sure it's a hard pull but your loan will show paid off and paid off autos help your auto lending credit
Message 11 of 13
gingerflower
Valued Contributor

Re: Best credit card to pay off car loan.

+1...
Message 12 of 13
arizonahd
Contributor

Re: Best credit card to pay off car loan.

Some good info here.

 

I am thinking you guys are right, probably not worth the effort.

 

I think this month I am going to put 1k on the loan to bring it to 6k (borrowed from my Citi Card), then just try to put as much on it as I can per month. The expected interest I will pay will be about $180 if I put at least $500 on it every month (my goal). I did consider using one of my barclay finance checks but it carries a 2% fee and is defferred so it puts an extra amount of stress to pay it off by 08/01/2016. Not worth it.

 

Thanks again guys for the tips.

Message 13 of 13
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