best way to pay off cc

L

lize14

Guest
i currently owe 1,200 on my AIB CC. which would be the best way to pay it off
a. get a credit union loan and pay it off
b. use my savings approx. e4000
c. get a personal loan from bank
d. just keep paying it off month by month
 
Use your savings, or transfer the balance to a new credit card with a 0% balance transfer rate and pay off the balance over 6 months (trying not to make purchases in the meantime)-see the Best Buys forum for suggestions.

(a), (c) and (d) are unnecessary and expensive given your circumstances.
 
Given that your CC interest rate would dwarf your Savings interest rate (or any CU or personal loan rate would also be far higher than your savings %'s) I'd fully agree with the above and use the savings to clear the debt.

If you have any emergency in the meantime which you would need the savings to cover you would still have options a) and c) open to you without having to pay the extra costs should no "emergency" arise.
 
Thanks for your advice guys, will use savings and then start the new year debt free....
 
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