No. of Recommendations: 1
Short Answer: Yes

Long Answer: Depends on your credit card interest.

Do you have a budget? Do you know where all your money goes? How much spare cash is available at the end of the month? All these quetions need to be answered before you can come up with a plan.

Just saying I will pay off the loan with the investment may not be best option. Checkout the snowball calculator and see how quick you can pay your credit cards off. A detailed list of debt along with interest rates will help us help you.

On the bright side you have recognized the problem and the biggest step one has to take.

Good Luck,

LB
Print the post  

Announcements

UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.
Advertisement