Valued Contributor
Posts: 1,145
Registered: ‎04-13-2013

Re: Need payment strategy advice with BT promos and student loan

FocusedAndDetermined wrote:

Without knowing how much you have to apply toward all balances, it's difficult to say precisely.  Based on the info provided, I agree with the others, who say pay the CCs first.  If you can clear them up during the 0% phase, by all means do it.  If you can't then still tackle the CCs the most, since the interest rates will be higher than your loan rate.


Thanks. Barring some unforseen emergency, I should be able to pay off the CC during the 0% period. At the end of the promo period, the interest is definitely higher than the loan. It's just that the loan amount is so large and the amortization is so painful at that amount so I wasn't sure whether I should try to pay down the loan amount while the CC debt is on 0%. But then I'd still have to deal with the CC debt moving on to a higher interest at the end of the period so that's probably just prolonging the problem rather than making it better. I'll just focus on paying down the CC now. After that I can seriously attack the loan and do some real damage. :smileyhappy: 

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