Rebekah
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If you can PROMISE yourself NOT to charge back up your credit card, pay that off... if you think you will charge it back up... pay off your truck! |
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tham153
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Always pay off whatever carries the highest interest rate. That is almost certainly going to be the credit card, since the truck loan has the truck as collateral. |
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MR MONEY
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Pay off the credit card. A good rule of thumb is pay down the debt with the largest interest rate. But regardless, credit cards have fees and high interest so I recommend paying that off first. |
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Paula M
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I'd pay off the truck - just to free up that car payment money....then attack your credit cards with that new found money each month.
Although, do the card payments add up to more than the truck payment each month? |
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Thanks for the Yahoo Jacket
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I would get ride of the credit card if you are paying higher interest on it.
Coach |
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blueboy342
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PAY OFF YOUR TRUCK. Ok judge what to do by "worst case scenarios". The worst case scenario for you credit card is that your score drops and the sent you balance to a collection agency. It may totally mess up your credit, that sux! But the worst case scenario for not paying off your truck (or if you uses your flexible money on credit cards and don't have a cushion for an emergency) is it being repo'd. That really really blows. I guess you need your truck to go to work. Which gives you money to pay for your computer, and Internet.....and without those, this life is not worth living.
I mean seriously, if you don't have a truck you can't even easily go to work, you can't pick up chicks, and ultimately you can't get girlfriend or even worse.......YOU CAN'T GET LAID.........think about it, you know what the right choice is.
p.s. Chicks like guys that own car's and houses... |
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Ricky J.
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Lots of answers about interest rates. Here's the best reason to pay off the credit card first. The credit card account is what is known as "blue sky" finance. Seasoning the account does nothing for your credit score. The truck, however is a tangible asset. Seasonong this account gives you leverage when you go to borrow again by showing a stable payment history. |
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bad_boeeze
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I don't know how much you owe on either one, but credit cards are the devil. If you don't pay them off after each month your paying usually 15-23% on what you owe. If you let that go for a few months that can add up to be more than what you ever paid for anything. Say you payed so much and left $2000 on your bill, and then payed 18% on that then you end up owing $2360. Vehicle loans are usually a lot less than that. So I would pay off your credit cards. |
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angelasky919
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I would say split the bonus 50/50 and put half towards your truck and the credit card. That way at least both companies see that you are at least putting an effort to pay them off. If your REALLY in debt sometimes you can notify the company and they will make a deal with you to pay off a lower amount of money.....i know this cuz my husband took this way out! |
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hakeem
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Pay off the credit card. It carries the highest interest rate. And besides credit card debt is much harder to pay off, since you don't have a payment schedule. |
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12879
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Pay off which ever has the higher interest rate, because it is costing you the most money. |
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Pinksunkiss
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credit card mom made the mistake of not paying hers off and m now we are in debt so i would say pay the credit card off then your truck.credit cards rack up a lot of intestre and if can take you years to pay off as in a car(ine your case a truck) you can pay off in no time no intestre. but you should do what ypou want what ever you think is right to do. |
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jackiemm
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Whichever has the higher interest rate. When paying off debts, always tackle the highest interest rates first. |
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cwconline
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Well, I would pay half and half. Split if 50 50 or how ever but i would pay some on both |
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precious02k
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credit card......it has higher interest rates!! |
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