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  #1  
Old 11-30-2016, 07:28 PM
Leemba Leemba is offline
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Smile Installment Loan Vs credit card help

We are hoping to buy a house in 18 months and I am currently trying to free up our debt to income ratio. I currently have an installment loan at 11% interest and making a payment of $350 per month. I have a credit card offer at 0% interest until January 2018. I also have about $400 to $500 per month extra to pay on debt. Would it be better for me to use the 0% interest credit card to pay off the installment loan and then use that 350 and the extra money to tackle the other debts we have or just start tackling the debt?

Thank you!!!
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  #2  
Old 12-06-2016, 07:57 AM
theviewabudhabi theviewabudhabi is offline
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Default Re: Installment Loan Vs credit card help

Get rid of the debts ASAP from my opinion and then plan other things.
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Old 12-12-2016, 08:42 AM
Paul@GFS Paul@GFS is offline
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Default Re: Installment Loan Vs credit card help

Well it depends on your financial situation. If you're confident enough to settle the installment loan first, then you may proceed with that since you have the 0% credit card offer for another year. But what I usually see under such circumstances is that the borrowers take the plunge in settling the debts first.
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Old 12-26-2016, 11:30 PM
Jovanny Jovanny is offline
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Default Re: Installment Loan Vs credit card help

I would suggest you to pay off the installment loan.
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