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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
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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. -
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.Comment
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