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Which pay off first
portsmouthranger
Posts: 1 Newbie
in Credit cards
1) Have credit card £2400 on it.
Maximum £3200, so another £800 available.
0% on purchases until August 2015.
2) Just about in credit each month on current account, but have arranged overdraft £2000 to use if needed.
Cost 50p per day.
3) Paying off £5,000 loan at 5.9% over 2 years.
Approx £219.00 per month.
Currently can keep Bank account in credit with paying off loan.
But was wondering with the above debt, which strategy is best.
Intending to be clear at August 2015, but more than likely still have £2,400 debt approx.
Just wondering if anyone can advise.
Many thanks
Portsmouthranger
Maximum £3200, so another £800 available.
0% on purchases until August 2015.
2) Just about in credit each month on current account, but have arranged overdraft £2000 to use if needed.
Cost 50p per day.
3) Paying off £5,000 loan at 5.9% over 2 years.
Approx £219.00 per month.
Currently can keep Bank account in credit with paying off loan.
But was wondering with the above debt, which strategy is best.
Intending to be clear at August 2015, but more than likely still have £2,400 debt approx.
Just wondering if anyone can advise.
Many thanks
Portsmouthranger
0
Comments
-
Pay off whichever has the highest APR. ie the loan.0
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