Paying off ~ 3+ years early?

[dantheman]

Why pay interest every month just to " build credit " ?

 

[CAJUNLAWYER]

I'll give you some additional unsolicided advice.
Scew Chase!!
You need to be doing business with a local bank or a credit union. Regional banks are not the way to go. When the local guy had to call Birmingham to get permission to change brands of toilet paper-it's time to change banks. Trust me on this one amigo-I do a ton of bankruptcy work.
Also screw the credit score-PAY OFF ALL DEBT as fast and in any way possible.

 

[SimpleGreen]

I'll give you some additional unsolicided advice.
Scew Chase!!
You need to be doing business with a local bank or a credit union. Regional banks are not the way to go. When the local guy had to call Birmingham to get permission to change brands of toilet paper-it's time to change banks. Trust me on this one amigo-I do a ton of bankruptcy work.
Also screw the credit score-PAY OFF ALL DEBT as fast and in any way possible.

I didn't have alot of choice in the matter. My local bank didn't want much to do with it, so I just let the dealer find someone (which took about 5 hours ). While they are a national setup, they still have a branch in Denham Springs that I can walk into personally and harass someone if need be

 

[Gus McCrae]

Pay it off. Start putting that payment you no longer have into a long term savings (after you build up some rainy weather money). Use that long term savings for... a house, your next car, big purchases etc.

I agree with Jim Dana..... Ask Dave Ramsey.

 

[Nomad.2nd]

Might be but it worked for me, I built my credit up within 3 years of moving to this country and I didnt have anybody to co sign JACK for me, no daddy or uncle who wanted to help.

Good way to get credit, and put yourself into financial slavery....


Bad financial advice.

Cool. I'll talk to Chase about spreading the money across the board. Sounds like a good place to start.

As for my score, I think the dealer said it came back in the mid 700s or along those lines. I think I'll be ok just killing the truck note and just using my CC for normal monthy expenses like I always have so they'll be something going on credit wise.

I mostly just want to kill the truck quick so I can start building back up to buy a house or whatever else I decide my next move will be...and not let Chase accrue more interest than they already have.

Thanks!

So a house is a goal.

I am a credit GHOST and content to be that way.

I was looking at deciding wether I wanted a Morgage.

Here's what you need to buy a house:
1 year rental history
1 year history paying your electric bill
1 other bill year long
1 other bill year long

= Morgage.

I do not have this. I was wondering if it was worth doing in order to preserve the 'chunk' of assets.

Pangris corrected me (Had him check my math/info) and I see that if I paid it off in 5 years (Planned on less) it would be 1/3rd the amount borrowed.

SO, I'm gonna sell off some guns, gun stuff, cash out a couple other things, and pay cash.

WHY 'get credit' for the 'privilege' of paying people interest, when you can save that $ and pay cash.

 

[tigerfan_9]

you don't have to keep a balance on your CC's to have "active" accounts to build credit. just put a few bills on a CC and pay it off monthly will do the same thing to your Credit score as running a balance. You just have to use the card periodically to keep it active and show that you pay it responsibly (no late / missed payments).

running a balance is a good way to lose money and alot of it. FACK paying 20% interest on anything. If you have to put it on a CC to afford it then you probably don't NEED it.