Right. I don’t carry balances either, but we’re talking workarounds. Loans are ideal if you have collateral. No argument there. Otherwise I’m suggesting opening a new card with 0% into APR, transfer, and pay down the principal over the interest free period. The slight ding to your credit from opening a new card will be offset by the greater credit to debt ratio and bounce back in 4-6 months.
I didn’t realize by paying attention you meant implementing penalization. I follow now. So yes, in that case you’re right. The better option would certainly be a loan.
Removed by mod
Right. I don’t carry balances either, but we’re talking workarounds. Loans are ideal if you have collateral. No argument there. Otherwise I’m suggesting opening a new card with 0% into APR, transfer, and pay down the principal over the interest free period. The slight ding to your credit from opening a new card will be offset by the greater credit to debt ratio and bounce back in 4-6 months.
Removed by mod
I didn’t realize by paying attention you meant implementing penalization. I follow now. So yes, in that case you’re right. The better option would certainly be a loan.