Should I Pay Off My Auto Loan or Credit Card Debt First?
The balance for the credit card is $6000 ( 8.99% APR for $4000, and 0% APR for $2000) However, for any amount that I pay toward to the account will pay for the 0% APR balance first)
My Auto Loan's balance is $2800. (APR: 3.99%) Because I haven't paid the auto loan off, I have to get a full coverage insurance, which is $178.00 a month. If I paid off the loan, I don't have to a get full coverage, and I can save about $90.00/month.
Which option is better for the long term? and which option would help me increase my credit score?
I appreciate your advice.