Making extra payments VS Velocity Banking with a credit card

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You asked for it! Here's an example of either:
1. Using your extra money to pay off your credit card or
2. Using Velocity Banking with another credit card to pay off your debt.

Always do the math and see what works for you!

like, share, and subscribe if you found this info interesting! thanks for watching and see you on the next one!
  1. Ari Tries New Things
  2. personal finance
  3. finance
  4. debt
  5. credit cards
  6. credit
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Комментарии
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Even when paying extra to CC, you need to put that payment to "sleep." Pay some expenses with the card and make a payment that covers these expenses and the extra payment

shadowcat
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So who exactly has 2 cards, 1 at 19% interest and 1 at 28% interest AND chooses to use the one with the higher interest ?

The savings on interest comes NOT from velocity banking but from moving debt to a lower interest card. In fact it would be even better to move this debt to a PLOC (where the rate could be as low as 10%) saving even more on interest.

thomasxxxxxx
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Where did you find that beautiful rug!

tiffanyfisher
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Did I miss it…?
How are they paying their rent/mortgage and things that can’t be charged – if it can’t go onto a card?
I'm going to re-watch...

ask_why
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I saved around $1000 in interest by transferring between credit cards. Who wouldn't want to save that much money?

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