Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie
Hi there,
There is an issue with role permissions that is being worked on at the moment.
If you are having trouble with access or permissions on regional forums please post here to get access: https://www.boards.ie/discussion/2058365403/you-do-not-have-permission-for-that#latest

Pay off loan or credit card or both

  • 03-03-2010 1:22pm
    #1
    Partizan
    Banned (with Prison Access) Posts: 629 ✭✭✭


    Hi guys, I dont know if this is the right place to post this but in the next week or so i'm getting a nice bit of money back off the tax man, nearly €2,000. Anyway I would be grateful for a little advice here.

    I am paying back 1 college loan - €2,400 and a credit card that is around €1900 (my credit limit is 2k) I have a very good credit limit and have only been late with 1 loan payment. What would be the best course of action, pay off loan, credit card or 1k each on both the loan and credit card?

    Thanks.


Comments

  • #2
    TwoShedsJackson
    Closed Accounts Posts: 9,438 ✭✭✭TwoShedsJackson


    You should pay off whichever has the higher interest rate as that's the worse value, this is almost certain to be the credit card.


  • #3
    shellyboo
    Registered Users, Registered Users 2 Posts: 5,883 ✭✭✭shellyboo


    The credit card, definitely, much higher interest rate.


  • #4
    LegacyUser
    Registered Users, Registered Users 2 Posts: 166,026 ✭✭✭✭LegacyUser


    Hey OP,

    If you intend on cutting up your credit card and closing the account well then I would pay it off, no point paying it off if you think you'll just use it again.


  • #5
    SlimJ
    Registered Users, Registered Users 2 Posts: 196 ✭✭SlimJ


    Credit card. No question.


  • #6
    Partizan
    Banned (with Prison Access) Posts: 629 ✭✭✭Partizan


    thanks guys


  • Advertisement
Advertisement