This article essentially says that the answer is “Yes.” Judging from this video as well as this other video, it seems to me that “No” would be Clark Howard’s answer.
Our credit union is at 9% personal loan 3.94% car loan, and 10.25% credit card
There probably are better options out there
The prime rate is 4.75%
Pay all your debts off
Absolutely. We are in a severe bind right now so the goal is to stop the bleeding. The goal is a tourniquet
Good advice. Currently paying 5% interest on all debts except 2.625% for the mortgage.
Good luck, many people are facing hard things.
1 Like
Smartpolitics, is the credit card in question a fixed-rate credit card? I can’t say that Navy Federal Credit Union offers such a card at the present time. (For the record, both me and Clark Howard are NFCU members.)
No I believe it’s 5.5% above prime