Consolidate dredit card into loan?
Date: Sat, 06/12/2010 - 20:02
An enourmous amount on my credit card Visa. The bank whom I have the credit card with is offering to put the entire principle itno a loan over 4-5 yrs. Good Idea? or Bad? Im thinking it all boils down to where i am paying the least in interest and the majority to principle
What would be the rate of interest? Can you afford the payment?
What would be the rate of interest? Can you afford the payment? How long would it take you to repay your debt if you don't take out the loan?
See, its not always a good idea to borrow more to payoff existing debt. You may wish to check all the alternatives available to you before deciding on it.
