Credit cards and online loans can actually be repaid according to the urgency of the repayment date. If you can't pay the bills, credit cards and online loans are overdue, you can consider them from the perspective of cost. Compared with online loans, the interest of credit cards is at a medium level, with an annual interest rate of about 18%. The annual interest rate of online loans is up to 36%, and the annual interest rate of almost regular online loans on the market is around 36%. The longer you owe money, the more interest you get.
Therefore, the online loan with high annual interest rate is settled first, and the debt cost is relatively low. In addition to the above two angles, the impact of overdue is also worthy of our attention. If the credit card is overdue, it is 100% credit, while the online loan is overdue, not necessarily. The number of regular online loans is small, usually a little brand, so it will be credited. Other annual interest rates are abnormally high or the business is not compliant, and it will not be reported.
And if we have plans to buy a car or house in the future, the credit card debt may need to be paid first. It is difficult for us to apply for a loan within two years because the credit information is tainted. You can't let your life plan fail because of this short crisis. Credit cards and online loans are overdue. Which is more cost-effective? Watermelon Jun feels that Lao Tie is mainly looking for the correct answer according to his own situation. For example, if you have money, be urgent first; For example, if you pay less interest first, then pay back the online loan with high interest first; If you are considering a credit report, you need to fill out a credit card bill first.