It’s the first reader question of the New Year:
I have a credit card with a $6700.00 balance,with an interest rate of 14%, have a CD which I can cash in to pay this down, CD will yield about $5600.00. Should I use the CD to pay down the credit card?  CD is paying about 3.6%
Personally, I am inclined to take the money in the CD and pay down the credit card. The 14% interest that you pay on the credit card more than cancels out the 3.6% you are getting on the CD. Indeed, you will be paying …read more

Yesterday I got an interesting offer in the mail. My credit card company wants to give me a home loan refinance!
Because you have shown financial responsibility, we are sending you this special offer. Refinance to a low rate of 6.28%!
The offer goes on, of course, to expound on the things I could do. Save money on interest! Take some cash out to go on vacation! Take cash out to improve my home! Take some cash out to pay off my credit cards!
Unfortunately for my credit card company, I pay off my credit card balances. I have a special fund that …read more