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Question By
bradleypuskar

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hello, So i have 8k saved and and 4300 in CC debt i want to eliminate my cc debt but not lose

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Every time folks Carry a Balance on their Credit Cards they are losing Monies!   So you are losing now.   Pay off your Credit Cards ASAP!

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LoanRangerCo

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Agreed! You're likely paying a high interest rate on your credit card balance, so pay it off if you can. If you don't feel comfortable paying it off with your savings, at least refinance the cc debt with a lower interest personal loan or transfer it to a lower interest credit card. 

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Look closely at the interest you are receiving in the savings account, then look at the interest you are paying on the credit cards.  Are you making money on the savings account that is more than the interest you are being charged on the credit cards?  It doesn't take a whole lot of calculating to see that you would be far better off using some of the savings to pay the credit cards off.  And the really smart move would be to make sure you pay the credit accounts in full every month.  Go ahead and build a savings account for emergencies but only after you get the credit card debt in line.

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