Pay off this debt, or put the money in savings? I really need your guys' opinions.

[vayub4]

Never be afraid of carrying debts especially you're not paying interests. Only time I am against debts is when you are constantly paying interests and have no plans on how to tackle the debts. If I were you, I would put that money in savings. 

Like someone said earlier, make your cash work for you. 

[vayub4]

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Not necessarily accurate or applicable to everyone. DTI is a matter of your monthly debt payments (or future payments) as a percentage of your monthly income. So even with $50 per month on each of the 3 cards, OP would only have a DTI of 6%, which is super low. 

Additionally, often mortgage payments are significantly lower than rent. So by having a mortgage you could end up paying off debt faster than renting. 

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I like your response. Would you be willing to chat privately? I am looking into home ownership

[vayub4]

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@Anonymous wrote:

Hi - after some work I've managed to get my credit fixed to where all three are between 628 and 650, no negative items except a few late payments on student loans ages ago. Only catch - we have no revolving credit other than student loans (no credit cards) and want to buy a house, so need to raise our scores. MyFico says with a card over $2500 my score will go to 701. Wife is in a very similar situation - we both need to find CC's that will approve over $2500 limits without being a rip off in our situation so we can rebuild our credit. Any recommendations or thigns to steer clear off?

Thanks so much!

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Did you do this yourself or you used one of these companies? I am interested in fixing credit as well

[Anonymous]

Two words... One name.

Dave Ramsey

Do yourself a huge favor and get his book financial peace. 

[Bman70]

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@vayub4 wrote:

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Not necessarily accurate or applicable to everyone. DTI is a matter of your monthly debt payments (or future payments) as a percentage of your monthly income. So even with $50 per month on each of the 3 cards, OP would only have a DTI of 6%, which is super low. 

Additionally, often mortgage payments are significantly lower than rent. So by having a mortgage you could end up paying off debt faster than renting. 

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I like your response. Would you be willing to chat privately? I am looking into home ownership

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I sent you a PM with Shane The Mortgage Man's contact info. He seems to be the go-to for home buying advice here.