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Pay off 0% interest card early? or not?
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Posts: 16 Forumite
in Credit cards
Morning folks
Just after some opinions.
I took out circa £3/4k on 0% credit card to fund the remainder of a car (knowing that I'd have the money to pay it off in 4/5 months) instead of taking out a loan.
I'm about 2 or so months in (to the 4/5 months) and have £2.5k to pay onto the CC, but the CC is 0% interest for another 13 months.
Question is.. Do I pay this amount onto the CC? or just pay the minimum payment and hold onto the cash in case I need it for something more important?
I'm used to having a few grand in the bank (Security Blanket)
Opinions welcome....
Just after some opinions.
I took out circa £3/4k on 0% credit card to fund the remainder of a car (knowing that I'd have the money to pay it off in 4/5 months) instead of taking out a loan.
I'm about 2 or so months in (to the 4/5 months) and have £2.5k to pay onto the CC, but the CC is 0% interest for another 13 months.
Question is.. Do I pay this amount onto the CC? or just pay the minimum payment and hold onto the cash in case I need it for something more important?
I'm used to having a few grand in the bank (Security Blanket)
Opinions welcome....
0
Comments
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You might just pay the minimum payment until the end of the 0% offer and put the 2.5K in a saving account, at least it will earn you something at the end of it0
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Problem solved. Completely overlooked that option.
Thanks Steph..0
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