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Should I pay off a 0% credit card?

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  • Should I pay off a 0% credit card?

    I have a small balance on a credit card which has 0% interest until March 2015. I have the money to pay off this debt, but I have been holding off because I am earning a bit of interest on it in the bank. Is it OK to have this credit card debt even though I can pay it off since it's not costing me anything?

    Also, should I consider this debt for my budget? I have put aside the amount to pay it off and I'm not counting that amount as savings since I know it has to go toward the payment. Thoughts?

  • #2
    I've been living debt free for over a decade and believe any debt is bad even at 0%.

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    • #3
      Originally posted by greentea View Post
      I have a small balance on a credit card which has 0% interest until March 2015.
      Well at this point, it's almost irrelevant. You have to pay it off very shortly. I'd just go ahead and pay it. The amount of interest you will earn over the next 30-45 days is minimal.
      Steve

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