Nostr Web Client

Would you pay off your credit card with a collateralised bitcoin loan or just pay the interest?

Reply to this note

Please Login to reply.

Discussion

If I could get Micro Strategy rates (0.1%) then just the interest. Btw, my Amex charges 29.9%. When I first got it, it was 4.9% the first year then 6.9%. Loan sharks 🦈

🎙UpBEATs🎶 11mo ago

You mean Strategy B ?

Rajesh 11mo ago

that’s the one

Aaron of Essex 11mo ago

I wouldn't mind some of those interest rates. But yes. Same boat apr goes up to something like 25% and seems like no-one wants to give me another. Balance Transfer rate. So my options are few.

Zaikaboy 11mo ago

Neither

Aaron of Essex 11mo ago

What does that mean? Just default it? Or give them a call saying I'm in financial hardship and can only afford to repay them 11 quid a month.

Zaikaboy 11mo ago

That's the one. If you can handle being black listed, credit wise, tell them you'll pay 20 quid a month until you get back on your feet.

Zaikaboy 11mo ago

I went bankrupt in 2010, best thing I ever did

Diyana 11mo ago

A fellowship I know has an equity course taking people through the process of discharging their debt. Your score will take a ding but eventually bounce off I think.

Aaron of Essex 11mo ago

Exactly zero people have said yeah pay your card off. 🤣