Re: Pay off car loan
05-22-2007 10:15 AM
Again that all depends on how quickly you can payoff the amount on the credit card, if you can do it within the 12 month of interest free than that's not a bad idea, or at least a very big portion of it. But if not all you are really doing is just transferring the debt, and not getting rid of it. And if it's going to take a few years to pay off the second half of the loan that you transferred to your credit card than again you will lose out on paying more for the high interest. Again it all depends on how quickly you plan on paying off the debt transferred to the credit card.