The Motley Fool Discussion Boards  Previous Page  Personal
Finances / Credit Cards and Consumer Debt   Subject:  Re:
Payment Holiday Date:  4/27/1998  9:00 PM Author:  CassFool
Number:  1281 of 308028  While normally I agree with you Fools,
keep in mind that the 'payment holiday' you're referring to can
also work FOR YOU (yes, you read that right) *IF* you are paying
off a credit card with a higher interest rate. Then you can take
the payment you would have normally applied to the card that is
giving you the 'holiday' and apply it to the higher rate card.
You're paying off the higher rate card that much faster.
Granted if you're normally only sending the minimum balance due
to the 'holiday' card, the savings you gain by taking the
holiday and sending it to the higher rate card may be only
pennies, but when you're counting on every one of them for the
long term, it can make a difference.