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Udonome

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Bestegg loan or new credit card?
Trying to pay off Cap One balance w/23.15% APR. (balance 4300.00 of 6300.00 credit avail.) BestEgg offer: $5000.00 over 3 yrs, 14.99% FIXED, 200.00 origination fee, reasonable monthly payments. New credit card would also have the balance transfer fee, variable APR monthly and no-interest for the first 12 months. I'm not sure what to do ??

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Can you pay it off in 12 months? Is another credit card a good idea as far as being another temptation to rack up debt? If you can pay the amount off in 12 months which would be roughly $360 per month, then I would go for the credit card, but if it will take you two or three years then do the installment loan. Figure out what you will be able to pay each month (be realistic) and go from there.

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Personally I don't really trust those on-line personal loan places, they usually have some trappings to hold you back, it would be different if it's from brick and mortar Banks/Credit Unions... With a credit card even if you can't pay it all off with-in promotional periods? You can always get another credit card with 0% before the first one runs out, that's of cores if your credit didn't get worse.

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