Back in july i took out a small loan and was paying it off without issue until work at my job got slow and I'm no longer able to come in consistently. My next loan payment is on New Year's so I'm wondering would it be better to use my credit card to fully pay off the rest of the loan (2.9k something around there) as opposed to missing a payment for a loan and getting all that interest. Would this be a good idea?
Should I use my credit to pay off my loan
byu/Subject_Orchid inCreditCards
Posted by Subject_Orchid
1 Comment
Always research whether you can pay a loan with a credit card first then what the interest rate trade off would be. The next thing is what the payoff of the loan is. Most loans collect interest over days not just monthly cycles