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MercedesBandz

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Should I pay off a credit card or high balance Auto loan?
I currently have a credit card with my credit union that has a balance of $7500 and an interest rate of 9%. I'm trying to decide if I should pay off my auto loan first and make minimum payments on the CC till then. My current auto loan currently has a balance of $43,600 at 2.99% I am currently paying 600 a month on it.

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Can you do a bit of both? You didn't mention what your utilization is on your card, but lower (without being zero) is pretty much always better. I wouldn't pay off the auto loan completely because then your score will definitely drop. Having a lower balance on an installment loan is better for your score though. 
I assume you're askiing because you want to know which choice will be better for your credit score. If you want to know which option will save you the most money, you can do the math. Just be aware that what is best for you financially and what is best for your score are often two different things.

Top Contributor
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The math is easy

Your credit card debt is high with the higher interest rate.  Pay that off first.  Its accruing interest at around $56 a month with a minimum payment probably around $63.  So it would cost you more to make minimum payments to it in the long run,  becuase you'd only be paying about $7 a month towards the balance. Plus it has a bigger effect on your credit score.

You auto loan has a much lower rate and most auto loans have penalties for paying early, So you wouldn't save anything there.

Good Luck

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