@Anonymous wrote:
Hello, I need some expert advice, last April before I took a loan at AVANT for 3k. Im paying $120.00 per month for 48months its a 35%APR.
my question is is it a good idea to pay off that loan now? I can get a balance transfer from my credit card for 0 % apr until July 2016.
I know it will increase mu utilization on the card. but will it look bad for the credit card company since im maxing it out.
please give me an advice. thanks a lot
^^^^^^^^
Yes a 1 year 0% APR versus a 35% APR, pay off the shark loan. you are getting a 35% return on your money! Where else will you get a 35% return?!
And in that year paydown the balance to zero, unless you want a balance, but that depends how much balances you have in other accounts too.
