Hello, this is my first time using this site and hope I am posting this under the correct section. Here is my situation...
Ive finally managed, over the course of a year, to stop spending money on stupid things and to save. I am happy to say that as of today I have ~10000 between my checking and savings accounts. This is where I need some advice...I have a credit card balance of ~4700 with an interest rate of 8.9%, and a car loan with ~8500 with a interest rate of 5.4%. My minimum payment on the card every month is roughly around 100 dollars a month, and the car payment is 325. My question is, what should I pay off? What helps me the most to get rid of? Also, the card has a limit of 10000 and I hear that it is bad to have a credit card with no balance since you're not using it.
Thanks for taking the time to read this, and I hope I can get some good responses.
Ive finally managed, over the course of a year, to stop spending money on stupid things and to save. I am happy to say that as of today I have ~10000 between my checking and savings accounts. This is where I need some advice...I have a credit card balance of ~4700 with an interest rate of 8.9%, and a car loan with ~8500 with a interest rate of 5.4%. My minimum payment on the card every month is roughly around 100 dollars a month, and the car payment is 325. My question is, what should I pay off? What helps me the most to get rid of? Also, the card has a limit of 10000 and I hear that it is bad to have a credit card with no balance since you're not using it.
Thanks for taking the time to read this, and I hope I can get some good responses.
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