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2Pacavelli 11/10/20 6:36:47 PM #1: |
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I can pay $2000 of creditcard debt if I use my bitcoin and stock reserves ... Copied to Clipboard!
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Pitlord_Special 11/10/20 6:41:28 PM #3: |
Stocks on average are like a 10% return on investment so if your credit card interest rate is higher than that, youre making a losing bet
Crypto is always a big gamble and I dont think borrowing against your credit card to finance gambling is responsible behavior. --- Posted from my iPhone 8 ... Copied to Clipboard!
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2Pacavelli 11/10/20 7:21:11 PM #4: |
About to take this advice and pay it off
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2Pacavelli 11/10/20 8:13:15 PM #5: |
bump for more opinions.
Also if I were to do this, thats all my investments ... Copied to Clipboard!
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2Pacavelli 11/10/20 8:56:36 PM #6: |
My AMD stock has gained about 200% though since I went in and my crypto currency about the same it's doubled. Feels like a risk selling it all
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Solid Snake07 11/10/20 9:01:03 PM #7: |
Pay off your cards. Your cards probably have a interest rate of around 18 percent. Most professionals can't consistently get a 18% annual return. And even if you can get a 18% return you're just breaking even.
--- "People incapable of guilt usually do have a good time" -Detective Rust Cohle ... Copied to Clipboard!
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2Pacavelli 11/10/20 9:09:01 PM #8: |
Alright gonna cash out and pay it. I think it actually has an interest rate of 24% APR
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2Pacavelli 11/10/20 9:15:41 PM #9: |
What if bitcoin rallies to 25000 before the end of the year?
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Solid Snake07 11/10/20 9:15:45 PM #10: |
Yeah, I meant to say atleast around 18%.
You got a good return but that doesn't mean you'll continue to. Take your good fortune and get that weight off your back. Then you can get back to investing. --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle ... Copied to Clipboard!
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2Pacavelli 11/10/20 9:17:46 PM #11: |
Solid Snake07 posted...
Yeah, I meant to say atleast around 18%. Okay. Even after paying 2000. I'll still have 3500 on one card and 1270 on another to pay off. 3500 @ 24% APR 1270 @ 2.6% APR (Closed card on a payment plan) ... Copied to Clipboard!
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Solid Snake07 11/10/20 9:20:21 PM #12: |
2Pacavelli posted...
Okay. Even after paying 2000. I'll still have 3500 on one card and 1270 on another to pay off. Then pay them off, starting with the highest interest accounts first. Carrying credit card debt is a losing game --- "People incapable of guilt usually do have a good time" -Detective Rust Cohle ... Copied to Clipboard!
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2Pacavelli 11/10/20 9:25:30 PM #13: |
I've been using the rolling method to pay them off with my income.
Recently payed off 3 of 6 of my cards off of my income. (About 750, 650 and 500 on the 3 of them) It's just scary to get rid of all the savings. I don't have a lot of cash savings either ... Copied to Clipboard!
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2Pacavelli 11/10/20 9:55:52 PM #14: |
Pitlord_Special posted...
Crypto is always a big gamble and I dont think borrowing against your credit card to finance gambling is responsible behavior. I didn't use my credit card to get the savings that was all from cash andinvestment profits. Mainly asking to see if it's smart to clear it all just to pay off a credit card ... Copied to Clipboard!
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TheMikh 11/10/20 9:58:03 PM #15: |
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pupeye 11/10/20 10:00:13 PM #16: |
stop buying things you dont have money for.
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2Pacavelli 11/10/20 10:07:14 PM #17: |
pupeye posted...
stop buying things you dont have money for. A lot of the debt came from emergency spending. ... Copied to Clipboard!
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