Quote:
Originally Posted by chief_Roka
I feel u. I hate credit cards myself. But whenever I go too long paying cash. My credit score drops. So if I need to make a big purchase? The rate goes up! 
U need to keep something active. Which I really hate.
Anyway, I really wish u good luck on wipin that debt out Kannibul. 
I sold my G35 to wipe out debt n the remainder of what was left is what I'm using to buy my Z in dec. Plus I'm saving. It would hav been nice to have my G and my Z. But I still have an altima 3.5se. I luv the vq35 so I guess I will just stillen mod the altima like I had the G35 coupe?
Hopefully by dec I will have saved enough to buy my car outright??
I'm thinkin of takin some money out for mods n finance around $11grand |
You're WAY better off paying as much as you can, as soon as you can, rather than "saving up to pay it off later".
Especially with credit cards. Those things cost you money daily depending on your balance from the previous day * (APR/days in year) = daily interest amount added to your balance...per day!
Rinse and repeat each day.
For example, if you have a 10K debt, 10% APR, tacks on $2.73 on day 1 of your billing cycle for an end of day balance of $10,002.73, the next day it costs you, $2.74, for an end of day balance of $10,005.47...rinse/repeat...
That's also why, if you pay off a credit card and have a zero balance, you end up with a balance the following month...because the accumulated interest isn't "shown" until the next billing cycle, however, it is calculated and added on DAILY.
It's also better to pay NOW rather than save up, because then you can't be drawn into buying something and delaying the payoff of debt.