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Hi, My credit card bill is at present 5000euro, I am currently only able to pay off about 200 e per month. my interest rate on the cc is approx 12.78 percent.
I applied for a loan of 4000 over 2 years and i was approved. The total amount that would have to be repaid is 4800 aprox. The interest rate is 13.8 approx. My question is , is it a good idea to take the loan to pay the bulk of the credit card, or am i better off to just keep paying what I can off my credit card and not take the loan.
appreciate your feedback.
Ps I am expecting aprox 10k from a redundancy claim, however this is going to take cira 8months.
Thanks a mil
Just make sure you are comparing apples and apples. Is that annual interest rate the AER (used to be APR)?
My credit card bill is at present 5000euro, I am currently only able to pay off about 200 e per month. my interest rate on the cc is approx 12.78 percent.
I applied for a loan of 4000 over 2 years and i was approved. l
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