Share post
Share
Debt Consolidation Forums Credit Repair, Credit Score and Credit Report forums

Which will help increase my credit score more?

Date: Mon, 09/10/2018 19:33
member profile picture
Posts: 1
Credits: 0
[Donate]

Which will help increase my credit score more? Paying off a 5 year loan ($5000 balance) with 12.83% interest or paying off a closed credit card ($4000 balance) which is currently on a $100/month payment plan with 10% interest, but interest will rise to 23.99% soon when the payment plan expires.

Thank you!




Pay off the closed credit card first because the interest rate will be double after the payment plan expire. You have to pay 24% interest on a closed card. That's a lot of money involved. Try to pay off the closed credit card as soon as possible. I wouldn't even think about credit score if I have to pay double interest. Let's see what others have to say about it.

Sub: #1 posted on Tue, 09/11/2018 - 20:53

ditchdebt ditchdebt

(Posts: 679 | Credits: )

Pay off the closed credit card as soon as possible. How are you repaying the closed credit card? Did you get any extended repayment approval? Are you settling the debt? WEll, after repaying this debt, you should manage your current credit card responsibly;y. Make sure you pay your credit card bills in full and within the stipulated time.

Sub: #2 posted on Fri, 09/14/2018 - 04:30

Sanders Patricia Sanders Patricia

(Posts: 1234 | Credits: )


DebtConsolidationCare (IAPDA member)
BBB (A+) logo for DebtCC
Connect With Us
About Us | Contact Us | Privacy Policy
Copyright © 2020 DebtConsolidationCare | 301 W. 11th Street Unit E, Reno, NV, 89503, United States
* Disclosures:
  1. By signing up a debt counseling session, your provided details (Name, Email ID and Phone No.) will be forwarded to the company advertising on the DebtCC. However, you have no obligation to use their services.
  2. Some creditors and collection agencies refuse to lower the payoff amount, interest rate, and fees owed by the consumer.
  3. Creditors/collection agencies can make collection calls and file lawsuits against the consumers represented by the debt relief companies.
  4. Debt relief services may have a negative impact on the consumer's creditworthiness and his overall debt amount may increase due to the accumulation of extra fees.
  5. The amount which the consumer saves with the use of debt relief services can be regarded as taxable income.
Page loaded in 1.123 seconds.