The Motley Fool Discussion Boards
Personal Finances / Credit Cards and Consumer Debt
|Subject: Re: Payment Holiday||Date: 4/28/1998 5:25 PM|
|Author: TMF2Aruba||Number: 1286 of 309293|
<<keep in mind that the 'payment holiday' you're referring to can also work FOR YOU (yes, you read that right) *IF* you are paying off a credit card with a higher interest rate. Then you can take the payment you
would have normally applied to the card that is giving you the 'holiday' and apply it to the higher rate card. You're paying off the higher rate card that much faster.>>
Cassandra makes a good point here. Of course, Fools who pay their balances in full wouldn't want to take any 'holiday' that would result in finance charges.
I do think that the interest rates on the 'higher' card would really have to be substantially different to make a noticeable difference. But anything to help is certainly worthwhile.
...but I still am...
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