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Question by coachgirl_09: Is it better to take out a personal loan or apply for another credit card?
I am trying to pay off credit card bills ($ 2,000 in credit card debt), get a new laptop and set aside $ 2,000 for a deposit on an apartment for next year. Is it better to take out a personal loan or apply for another credit card and do a balance transfer on it. Thanks!

Best answer:

Answer by Matt G
I would go with personal loan depending on your credit. If you pay a deposit of any type with a credit card isn’t that considered a cash advance? If it is then I would go more towards the loan because they will get you with the fee and then interest rate with a cash advance and you still have the monthly payment which would probably be higher than the loan payment. But it all depends on the type of deal you can get.

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Question by Lizsplace: Is it better to take a personal loan to pay off a credit card debt?
I have had a credit card debt of just over $ 2000 for quite a while now and my monthly interest rates are almost $ 100! Is it worth taking out a personal loan at a much lower interest rate and paying that off instead?

Best answer:

Answer by dusty_titus
Absolutely, just remember to keep that CC home and not use for at least 14 months.

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