Is it worth it to transfer part of vehicle loan to low interest credit card? - credit card with lowest interest in philippines
Should I balance the car in the $ 27,700 of 5.34% for 72 months ($ 470/month) and I want to transfer a portion of the card over a credit and the truck at $ 17K and 5.34% had K 10.7 million by 3.3% for life credit card?
I'm not sure whether the interest is calculated in the same, or if it would save me some money. Not interested in saving less means to make money only in the interest.
Sunday, February 21, 2010
Credit Card With Lowest Interest In Philippines Is It Worth It To Transfer Part Of Vehicle Loan To Low Interest Credit Card?
7 comments:
By splitting the loan, you have two monthly payments. If you make the additional payment, why not this loan in the car of the director. That would reduce the interest you pay.
The problem with the transfer by credit card, is that almost everything that can activate the credit card company to change its interest rate to a default setting. If you end up paying certain debts, drops or a credit score, which can increase your pace.
In addition, low interest rates for the life usually require a number of charges per month from interest rate stable. And there are transfer fees?
Credit Card Debt is an inescapable reality for most of us. Unless, of course, was born with a silver spoon in his mouth, it is quite difficult to follow the schedule of payments by credit card, and the result is a huge credit card debts. Things are worse if the credit card debt at high interest rates and to put an additional burden. The minimum monthly payment is an option that we all seek refuge in what makes things even more catastrophic. Is there a solution? Definitely yes. If you do not have one credit card balance transfer, read on.
Balance card credit transfer is a process by which we can transfer our balances credit card interest rate (usually high) at a low interest rate credit cards.
Balance transfers have several advantages Here are a few of them well.
For the balance transfer is one of the best ways to get rid of credit card debt. Be removed by the transfer of balances on all outstanding balances and transfer the new credit card.
Depending on what treatment they receivePassing the new equilibrium interest rate on balances will be transferred to 0% or low rate for a specified period. The ideal situation would be to delete all funds within that period, making the low interest rates.
The payment terms will also show how to relax the transfer of your assets.
The credit card companies have many characteristics with the program of balance transfer, this could offer no annual fee and your favorite rewards program. Read more: http://www.credit-card-gallery.com/artic ...
No, because at any time, can increase the rate
allowed by law! Which is more than 5.34%
Contact the company credit card and ask, can set how long the loan be.This decisive part in the monthly payment.You in order to save, but your monthly payments could be up or down, depending on term.Dont can surprise the Representatives of the tele calculated everyting for you.
Beware of charges of "transfer" that approximates the tax equality.
Beware of charges of "transfer" that approximates the tax equality.
Assuming your FICO score drops for any reason. You can late in paying bills.
Then the credit card company changes its rate to 18% and 26%.
Personally I would buy a car for $ 2000 and the difference. If it breaks, I would still buy a car for $ 2,000.
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