Is it smart to pay off student loans with a credit card? - student loan to pay off credit card
Let's say that I can find a way to my credit card to get my loans direct payment. Credit Cards 0% for 12 months and the loan is fixed 3.5%. Assuming he can do everything to make that in 12 months, should I do? As things go wrong in my credit report because student loans are "trustworthy", while credit card "debt" are?
Saturday, January 23, 2010
Student Loan To Pay Off Credit Card Is It Smart To Pay Off Student Loans With A Credit Card?
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8 comments:
This is one of the worst things you can do. The student loan rates are very low compared with rates of consumer loans. Even if you have an introductory rate of 0%, the speed increase, and this time no way to convert that debt, the debt of student loans. Furthermore, no student loans as debt on your credit card. Not.
Remember that you will pay in the next 12 months. I think it is better to keep the loan payment per month as agreed. You can not look too far into your financial future. One never knows the obstacles that have been submitted and whether they are charged in the situation, the credit card. Then they'll end up paying fees that were due.
I do not think this is a bad idea if you are sure you can pay it in the next 12 months. In fact, I think it would be better on your credit card, because the loan is repaid. Good luck.
I do not think this is a bad idea if you are sure you can pay it in the next 12 months. In fact, I think it would be better on your credit card, because the loan is repaid. Good luck.
Only if you plan to use their credit cards in the event of bankruptcy.
Student Loans: tax deductible, simple interest (interest on the balance that is due in principle), and has a fixed interest rate long-term bottom.
Credit cards are not tax deductible, compound interest, and only the words have a 0% for 12 months, chances are you do not pay in time to the end ...
Let your student loans, as it is.
Only if you pay in one years and not 0% as soon as 15% or more on the way and do not want to pay on their loans. Do not look good if you max out your credit card number, because a portion of your score, the amount of available credit in use and take you closer to your limit, the worse it reflects on their lending capacity. However, depending on the amount representing the money we are talking about the economy from 3.5% a lot of money and it can be useful, for money, despite the negative image of your guests, but especially if your additional accounts are in good condition. Check out "Fico Breakdown: How your credit score is calculated" http://finance-girl.blogspot.com/2006/09 ...
Involved for a better understanding of the factors in calculating your credit score.
I agree with the Council, Robin A. Okay. There is no guarantee that the credit card before the introductory rate of 0% pay up. Go safe! Good luck!
In general, no ... Since the APR of the loan after April 0% will be higher. In addition, your loan at a fixed rate and low student he is ... Not sure if you can use a credit card to pay a student loan, because the balance with the other balance and stops after 80 euros (but again, this could be the difference of the creditors)
But if you pay for everything before April average width of the panel. I just want to check your balance in full () term and see if I could do in 12 months.
1) If your credit card rewards (such as giving a refund)
2) Check whether you can play with your credit card
3) Check the APR on your credit card after the intro April
4) Check your income and see if they can afford it (and you have to deal with emergencies in time)
5) How does the tax credit you receive for paying your student loans (all amounts paid in interest on your student loans is the tax credit)
The mixture should be a yes or no. My intuition is styleL no .. However, will also affect your credit score and more often the account, no more weight in the credit markets. To close your student loans and put the total claims of creditors your credit look bad.
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