2013年10月1日星期二

Should I pay off my credit card now?

  • business secured credit card
  • balance transfer credit card
  • zero percent credit card
  • wire money online with credit card
  • no credit check secured loan
  • credit card loan
  • credit card consolidation loan
  • accept credit card payment
  • credit online payment
I want to refinance my home loan but I have a credit card to pay off and I want to close that account which in turn would make my credit rating look better for the refinancing.


I have 2 options.


I have enough money available to me in my mortgage offset account that I can use now to pay the credit card off or I can leave that there and save up over the next month to pay off the credit card in full.


If I take the amount in my offset account to pay for the credit card then my loan amount will be a little bit higher as it's not offsetting the outstanding balance anymore.


I am not sure if I should use that money now and close the credit card account asap or if I should wait another month until I have it paid it off from my savings.


Which option would be better from the banks point of view?
  • Additional Details
  • Tricia, yes I will definitely get the loan that allows me to make the extra payments. I've been doing this already and it's been fantastic. Plus I have access to the extra money should I really need it.

  • Should I pay off my credit card now?

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