Pay off credit card?

Ralphg85

I already know the answer to this I think but just need some confirmation and assurance! Basically my situation is that I've been saving towards a holiday to New York at the end of the year and currently have £4000 saved (£3000 is needed for the hotel so now really saving towards spending money now). Conversely I have a credit card with a balance of £3500 and apr now 25.9% (introductory period is finished now). So my question is do I pay off the credit card in one lump sum and essentially use it towards spending in New York (e.g.to cover the hotel which will more than likely require to be paid by credit card anyway)?

I think its more the physiological effect of knowing I have this money stored off and saved toward my holiday which is why I haven't got it paid off. Based on the poor saving rate and high apr I would be crazy not to just pay off the credit card now, right?

Thanks,

Ralph

YorkshireBoy

Pay off the card now, and get another 0% card for your holiday (if your circumstances allow).