if you came into a lump sum of money, which would you pay off first?
2007-02-28 15:31:44 · 6 answers · asked by Laughing 4 in Business & Finance ➔ Credit
Credit cards are revlolving debt and hurt your credit rating more then student loans. They also have a much higher intrest rate. Pay off the credit cards for sure!!
2007-02-28 15:35:21 · answer #1 · answered by Chula 4 · 0⤊ 0⤋
CC loan. Student loans are the most forgiving loans you'll get; besides those from relatives. When I had them, I could pay ahead in case of future problems and if worse came to worse, I could ask for a time without paying them. This didn't rack up huge finance charges that the CC charge.
2007-02-28 15:36:30 · answer #2 · answered by something 3 · 0⤊ 0⤋
it depends on which one has the higher interest rate. right now, i curently have 4 student loans, which are 5.14% each, and a credit card that is 4.9%, so i would pay off my student loans
2007-02-28 15:34:38 · answer #3 · answered by Anonymous · 0⤊ 0⤋
CREDIT CARDS, why because if you become disabled. by the standards of the social security your student loan would be excused
2007-02-28 15:50:08 · answer #4 · answered by rallman@sbcglobal.net 5 · 0⤊ 0⤋
Credit card debt first.
2007-02-28 15:35:10 · answer #5 · answered by Anonymous · 0⤊ 0⤋
CC debit is generally higher percentage. I would pay those first.
2007-02-28 15:34:02 · answer #6 · answered by Mommyk232 5 · 0⤊ 1⤋