Should I repay My CC with Mutual Funds??

[Jaynoon]

So I'm coming back from hard times, I had to file for the big BK last year, and have since opened up a secured credit card. I was able to open it with a CD, and also started savings with Mutual Funds. 

Earlier this year, I charged about 90% of my credit card limit on the Starting up cost for my new business (WISH ME LUCK!) , and I am currently making payments to get it paid off, the cc has a APR of 9.9%. At this rate I will take around 6 months to pay it off.

I also have some mutual funds, that I was wonder if I should pay the CC completely off with. However, this will leave me with nothing in my Mutual Funds.

I am curious, what would be the smarter long term financial move. Paying it off slowly over time (even though it’s in the 90% area)? or paying it off completely using MF?

I am rebuilding credit at this point and have a 657 credit score at the moment, one year after the BK.

[llecs]

I would just pay it off via your current income and keep the savings in savings. Six months won't hurt anything on a secured CC. I'd imagine your transaction costs to cash in portions of the MF and unrealized losses for not growing the MF would be greater than the interest for a few months.

[Jaynoon]

So it made my credit score drop 52 points with just that one action, how long will it take for me to not only get those 52 points back, but also earn a better score? 

Basically, once I pay it off again will it go back to the old score or better? 


Still learning.