I maxed out this card 21 months ago and the 0% intro APR is about to end. I owe 11,875 next week. Someone tell me why i should pay it off instead of taking all 26 years and continuing to make the $119 min payment instead of selling some of that bitcoin i bought 21 months ago.
@ColbyNoe Dave cannot see the .378 Btc on the other side of this debt. What will that be worth in 26 years?
@sunny051488 The US Bank Shield 24 month 0% APR. 5% transfer but effectively 2.5% per year with min payments. Has been such a cheat code.
@sunny051488 U know what to do
@sunny051488 When $BTC was at $6, I maxed out my Wells Fargo credit card and bought 200 Bitcoin. When BTC hit around $7, i sold all the Bitcoin to pay the card off. Dont be like me...
@sunny051488 I keep getting these credit card debt consolidatoin spam mailers, so I called one for shits and gigs. Basically they can negotiate your debt down with the credit cards and give you basically a 0% interest payment plan. EX: you owe $30k. instead, you take a hit to your credit
@sunny051488 It’s just risk tolerance imho. Btc is probably gonna do a dip if you are comfortable with paying the minimum come hell or high water even if in a job loss than yolo is fun. Being financially responsible and just clearing it out won’t be the end of the world. Nobody went broke
@sunny051488 they don’t tell you this but you can just not pay back debt
@sunny051488 Seems like there are a lot cheaper ways to lever your investments.
@mikesimonsen there are but I'm out of all unsecured options for now.
@sunny051488 Pay it off bro, I know it will sting but mental freedom and clarity is more important. You can still have btc just cover the debt and move forward debt free.
@sunny051488 Read this and you will have your answer https://nakamotoinstitute.org/...
@sunny051488 What’s the new APR. And I guess it depends on if you believe in cycles and if you think we are at the end of this one
@Novanoodle5165 new one is 25%. it mainly depends on if i think .378btc will be worth more than 33k or not after 26 years. Right now its worth 42k.
@sunny051488 You basically turned a credit card into a 21-month $BTC leverage long and it aged like fine wine
@sunny051488 You could try a loan agains the bitcoin with strike or arch wait a few months for credit score to go up get another 0% interest card and role it that way
@sunny051488 You will not hold said btc for 26 years
@sunny051488 The interest rate will be 2-3x what you can earn on the money that you will presumably keep invested. So it’s a 10-20% annual loss.
@sunny051488 Amazing
@sunny051488 Theres a middle ground u could pay off half
@sunny051488 Def be better to refi with personal loan for like 12% instead
@sunny051488 Some #debt is #GoodDebt 😌
@sunny051488 Do a balance transfer at 3 or 4 percent depending on the offer