Investing vs. Paying Credit Card Debt

CreditCardGuru · 11:12 AM

Here is a great brief video which shows why it is almost always smarter to pay down credit card debt than keeping the money in a bank or investments.

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sputNick · 04:17 PM

And today this couldn't be more true!

Mogul of Pineapples · 06:46 PM

Yet so many Americans still feel it's better to keep thousands in the bank than pay their charge card bill.

robert.loehmann · 09:34 PM

What I also realized back when the market was buzzing years back was that it was okay to have debt as long as your investments were earning more than the interest rate to make it profitable. Sure today that doesn't work but during the bull run of the Clinton era it made sense to go into low interest debt to finance your investments. Today though I would not recommend that in this skakey economy.

bozell · 10:05 PM

keep money in stocks and 40 to 80% in a year plus owe interest on my credit card balance from not paying it off? no way dumb choice there.

11:12 AM	#1
CreditCardGuru Moderator/Staff Join Date: Mar 2008 Location: Huntington Beach, CA Posts: 101	Investing vs. Paying Credit Card Debt Here is a great brief video which shows why it is almost always smarter to pay down credit card debt than keeping the money in a bank or investments. <object width="425" height="344"><param name="movie" value="http://www.youtube.com/v/m_jfQDTrMcQ&hl=en"></param><embed src="http://www.youtube.com/v/m_jfQDTrMcQ&hl=en" type="application/x-shockwave-flash" width="425" height="344"></embed></object>

06:46 PM	#3
Mogul of Pineapples Centurion Member Join Date: Jun 2008 Location: Where the smog from the 101 freeway coats my home's windows... Posts: 634	Yet so many Americans still feel it's better to keep thousands in the bank than pay their charge card bill. __________________ “It takes 20 years to build a reputation and five minutes to ruin it. If you think about that, you'll do things differently.” -Warren Buffett Current Cards: American Express: Blue Cash, Simply Cash Bank of America: Visa Financial Rewards Platinum Plus Chase: Rewards Visa, Amazon Visa Discover: More Current Everyday Card: American Express Blue Cash

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04:17 PM	#2
sputNick Gold Member Join Date: Oct 2008 Location: Midwest Posts: 41	And today this couldn't be more true!

09:34 PM	#4
robert.loehmann Gold Member Join Date: Aug 2008 Location: Toledo, Ohio Posts: 28	What I also realized back when the market was buzzing years back was that it was okay to have debt as long as your investments were earning more than the interest rate to make it profitable. Sure today that doesn't work but during the bull run of the Clinton era it made sense to go into low interest debt to finance your investments. Today though I would not recommend that in this skakey economy.

10:05 PM	#5
bozell Platinum Member Join Date: Jun 2008 Location: c-town Posts: 58	keep money in stocks and 40 to 80% in a year plus owe interest on my credit card balance from not paying it off? no way dumb choice there.