Pay off in full or monthly ??

meltonred

Hello,
I have a bill of £2290 on a Capital One credit card at the moment.
I think it is a interest free card.
I have enough funds in a on line savings account to pay off the card in one go.
is it best to pay off this cc debt or keep paying the minimum monthly installments to clear the card.
Any advice will be grateful.
Thanks.

Swans1912

meltonred wrote: »

Hello,
I have a bill of £2290 on a Capital One credit card at the moment.
I think it is a interest free card.
I have enough funds in a on line savings account to pay off the card in one go.
is it best to pay off this cc debt or keep paying the minimum monthly installments to clear the card.
Any advice will be grateful.
Thanks.

Do you think paying off the credit card will cause less stress or don't you care because you have it covered?

I ask this because you are earning interest on your savings, any idea what your getting right now? At the end of the 0% deal you can pay of your credit card and have a couple of £s left over from the interest... may not be that much however!

I would personally get it paid off..... but thats just me!

Check Out: http://www.moneysavingexpert.com/savings/savings-accounts-best-interest

jamalfatty

You need to find out if it's interest free or not. If it is, minimum payments until that rate runs out, if it isnt, clear the balance.