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URL:  http://boards.fool.com/so-should-i-take-the-plunge-and-pay-off-the-mbna-23593691.aspx

Subject:  Re: Should I pay off a cc with my ING fund? Date:  1/22/2006  9:06 PM
Author:  Windowseat Number:  219059 of 308558

So, should I take the plunge and pay off the MBNA card in full, or just stay the course I'm on right now?

My first, off-the-cuff, no-other-response-has-been-read response is:

NOOOOOOOOOOOOOO.

My second response is;

no.

One of the things you are learning through this miserable process is Planning Ahead. You know that certain expenses will appear, and you'll have to scrape around and find the money. One of the happier financial events in my life was being able to save up and plan ahead for my car insurance.

http://boards.fool.com/Message.asp?mid=22367211

This gives you some idea of what is ahead when you pay off this debt. You'll be looking at a world where you don't have to hunt around in order to pay a bill.

If you tear apart your savings now, how far back will that put you in terms of your regular snowball? Will the other cards just get the minimum until you've saved up enough money to pay your other expenses? I don't recall your other minimums right now, but I'll assume that they aren't at the $20.00 level.

Do you have other cards that are open? Could you get a cheap balance transfer for one of them, and move the residue? If you got a good offer could you call MBNA, tell them you got a good offer, and can they match it?

I hate to watch you struggling to meet other expenses down the road a bit, simply to wipe out a single bill right now.

Nancy
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