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Originally Posted by Yash
Monique,
Thanks for answering. That's what I've been finding the loan interest is just as much or more than credit card interest.
Thanks again,
Yash
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Bargining in here. Most loans are at a fixed rate for a fixed period so the rates tend to be better then credit cards. Credit card companies only make money if they can charge interest and fees which are generally much higher to make up for the relatively small amounts of the loans. A loan SHOULD cost you less then a credit card unless you have a low interest fixed rate card or some cards offer no interest for a year on cash advances. I think we used one of those for a remodel. We borrrowed like $50K and paid it all off when the house was done and we got a new mortgage so we ended up paying no interest at all. check those out.
lisa