paying

[juniornj23]

What is more important to pay cc or card loand

[takeshi74]

Important in what regard(s)?

[Anonymous]

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@juniornj23 wrote:

What is more important to pay cc or card loand

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Unless you have another (reliable) car to get to work, I'd try to save my ride before a CC.

Which is exactly what I did when ended up C/O 3 cards back in 2008.

[juggar]

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@juniornj23 wrote:

What is more important to pay cc or card loand

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Obviously the car loan, if you are having to ask for advice on this then ill assume you got some buy-here-pay-here loan. 

Most BHPH will attempt to repo after one missed payment, so pay the car loan. 

[juniornj23]

My job gave me 6500 as bonus and I don't know what to pay first my cc or my car loan 

I own 9500 on cc

230 on my car 

[juggar]

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@juniornj23 wrote:

My job gave me 6500 as bonus and I don't know what to pay first my cc or my car loan 

I own 9500 on cc

230 on my car 

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You need to be more articulate with your spelling and grammar, else nobody will understand what you want. 

That said, pay down whatever has the highest interest rate. It should be your credit card(s).

[Chris679]

As long as you are still going to keep making regular payments in the car then put the whole bonus towards the credit cards to save a lot more on interest. This is assuming they have higher interest rates.

[Anomalous]

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@juniornj23 wrote:

My job gave me 6500 as bonus and I don't know what to pay first my cc or my car loan 

I own 9500 on cc

230 on my car 

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Make the car payment, then put some towards your cc. As someone who has to live with a paid-in-full redeemed repossession on her credit report for the next several years, I no longer condone missing car payments. 

[Anonymous]

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@juniornj23 wrote:

My job gave me 6500 as bonus and I don't know what to pay first my cc or my car loan 

I own 9500 on cc

230 on my car 

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Put enough in the bank to pay for at least 6mos of your auto loan then use the rest to pay down your CC's.

[Anonymous]

What is the current due on the CC? What is the total due? What is the current due on the car loan? What is the total due? What are the APRs for each? Giving us this basic information will help us come up with a response. Additional information like net pay, CL utilization, etc might help with an even more thorough answer. 

If we are talking generalities:

1. Pay minimum payments on everything first, then pay the rest. 

2. If you have to pick one over the other, pay the car loan first. 

3. If your income is enough to cover the payments in the future and have no overdue payments due, pay the higher APR payments first after keeping aside a small emergency fund (at least 2-3 months expenses) before paying off either loans. 

Now none of the above might be right for your situation. Without more information, we can throw out general rules that may or may not apply to you.