"It is not the employer who pays the wages; he only handles the money. It is the product that pays the wages." - Henry Ford
logo

Go Back   Saving Advice > Financial Chit Chat > General Discussion

General Discussion Please read our Forum Rules before posting
Feel free to talk about anything and everything about money.

Reply
 
LinkBack Thread Tools
  #1 (permalink)  
Old 08-15-2006, 06:16 AM
cashqueen cashqueen is offline
$ Saving HS Freshman
 
Join Date: Jun 2006
Posts: 130
Last Blog Entry: EF to the Rescue!
Points: 2056.50
Donate
Default Credit cards to pay off student loan?

I just got some checks from my credit card company. Either 0% interest until Feb 07 or 3.99% until the balance is paid off with no balance transfer fee. Well, my DH's student loan is now 7.1% and we plan to have it paid off (about $15K) in the next 14 months or so. If I set it up on auto bill pay to ensure no late payments (I don't pay late anyway) is it worth it to move the balance to the credit card to save on interest? It seems like a good deal but maybe there are some things I'm not thinking of. TIA
Reply With Quote
  #2 (permalink)  
Old 08-15-2006, 06:30 AM
Broken Arrow Broken Arrow is offline
Foot in mouth diseased
 
Join Date: May 2006
Posts: 4,657
Last Blog Entry: CR-48
Points: 25090.40
Donate
Default Re: Credit cards to pay off student loan?

Like any other balance transfer schemes, I think it's a good idea if the planning and discipline is already there. If not, it is a bad idea.
Reply With Quote
  #3 (permalink)  
Old 08-15-2006, 06:44 AM
Roupey03 Roupey03 is offline
$ Saving HS Freshman
 
Join Date: May 2006
Posts: 139
Points: 2098.00
Donate
Default Re: Credit cards to pay off student loan?

Since you seem to have a good handle for when you can pay it off. I would say it might not be a bad idea. I am just glad that my student loans are not that high of a rate. Then again I wish I only had 14k to pay off.

Good luck to you.
Reply With Quote
Reply



Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

vB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are On
Pingbacks are On
Refbacks are Off

Similar Threads
Thread Thread Starter Forum Replies Last Post
Student loan bigsaver Investing & Banking 5 11-18-2006 01:57 PM
What rate is your student loan? b4freedom Personal Finance 23 08-14-2006 02:49 PM
Student loan cgexpress General Discussion 2 02-27-2006 07:31 PM
401k, Credit Cards or Car Loan - Where Should Our Money Go? questions Personal Finance 13 01-29-2006 08:03 AM
Help! $47,000 student loan advice henrybemis Personal Finance 4 01-28-2005 01:23 PM



Powered by vBulletin®
Copyright ©2000 - 2012, Jelsoft Enterprises Ltd.
SEO by vBSEO 3.0.0 RC6 © 2006, Crawlability, Inc.

Copyright © 2012 SavingAdvice.com. All Rights Reserved.