Hey all, got a quick question.

Just got some pricy work done on my daily driver. Needed a new transmission, in total 6k.

I have around 10k saved that I can put toward the work, now I am debating putting 2k on credit to pay off over time, and 4k out of pocket. Would this be a financially smart decision or would I be better off just paying the full amount out of pocket?

I am hesitant to charge such an amount, as I make $16-20 an hour as a delivery driver but I would like to build my credit (currently 755) in order to move out once I land a stable full-time career.

Comments

Werewolfdad t1_j6piley wrote on January 31, 2023 at 11:49 PM

No choosing high interest credit card debt is never a good option

yeehaw457 t1_j6piqzs wrote on January 31, 2023 at 11:50 PM

You have the cash saved up so you should use it. Putting 2k on the card to pay off over a few months will hurt your credit.

Kerrminater t1_j6pj6kn wrote on January 31, 2023 at 11:53 PM

Only put it on credit if you can pay it off before there is interest. If you don't already have credit then yeah this may be a good idea