hi all recently got approval ready credit
thinking weather to early pay off all this ready credit borrowed amount VS taking 24 or 36 months to pay slowly do not know which one is best suitable option IN TERMS OF interest rate and all? thanks for reading and feedback will be appreciated
Got Offered Ready Credit personal loan recently
aks on 30/03/2015 - 12:00
Comments
OK,I just paid out my $20k loan with citibank, and managed to pay it off 16 months early… I probably haven't saved anything on interest (as it was a 0% balance transfer), and no real rewards for paying it out early, other than being offered a 16 month term loan… BUT it did allow me to clear one more debt…
First, work out how long it will take you to pay back and be realistic about your repayments. Anyone good with money will tell you to clear unwanted debts as soon as possible.
Then use this timeline to work out how much you would pay in interest AND FEES over this time. Don't forget to look at sneaky fees like direct debit/annual/statement etc.
If you can pay it off early, Definitely do it. You'll be charge a shitload of interest if you continue.