I have 2 options, either
1. Complete car repairs ($700) and put the rest toward paying off Master Card
or
2. Pay off Master Card and charge some of the repairs on Amex and/or Visa.
That way I can have a zero balance on one card (to motivate me and perhaps raise credit score), and I can pay off the charge with my tax refund.
I know the smart thing is to use the cash to repair the car since I don't plan on buying a new one any time soon, but I would get a lot of satisfaction out of seeing a card with a zero balance.
What do you think?
thank god for the extra pay this month, it feels like a blessing. haha. my extra pay is going towards my tuition :/ i wish i could use it as fun money but that's life.
ReplyDeleteeither one of your options sounds very money smart, if i were you i would go with #2 though. either way you would be paying off to essentials, good luck with that ; )
Ugh, I wish I had the set-up to be paid "three" times in January. Oh well, I'll be paid this Friday instead :)
ReplyDeleteMy advice is this - #2 sounds like a good option, only if you are SURE you will cover the payment with your tax refund. if you don't think you will get back enough to cover the $700 charge, then don't do it, because that's how the debt starts piling up again. I know it's encouraging to pay off a card, but it can be discouraging to have another $700 added to your debt in the same moment.
Just a thought!