# Hey people with non-0% CC debt **URL:** https://forums.speedlife.net/t/hey-people-with-non-0-cc-debt/22288 **Category:** NYSpeed Off Topic **Created:** [December 29, 2006, 11:02am UTC](https://forums.speedlife.net/t/hey-people-with-non-0-cc-debt/22288 "2006-12-29T11:02:24Z") **Posts on this page:** 1 **Showing post:** 27
### Author: ![JayS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/jays/32/15375_2.png) [@JayS](https://forums.speedlife.net/u/JayS) #### Post date: [December 29, 2006, 3:17pm UTC](https://forums.speedlife.net/t/hey-people-with-non-0-cc-debt/22288/27 "2006-12-29T15:17:42Z")
Using it to pay off high interest credit cards is a good idea, especially if you plan to pay it off before the 5/07 date. More than likely anything you charge to keep the card active will get paid off last, meaning you’ll be paying the full interest on those charges, which is prime + 5.99 (14.24% currently). Using it as a low interest loan is probably a bad idea if you care about your credit rating. When you take out a huge amount of credit card debt it’s UNSECURED debt. AKA, debt that they can’t come repo anything to reclaim. So lets say you buy a pizza place with it, it would hurt your credit much more than having a 20k small business loan using the pizza place to secure the loan. End Eco and Lending 101. --- _[View the full topic](https://forums.speedlife.net/t/hey-people-with-non-0-cc-debt/22288)._