A web user asks, I have a St George Vertigo Mastercard and I’m planning to make an $11,000 purchase (because it has low interest). I’m planning to pay it off within 12 months and I’m confident I will. My question is since the card like most cards has 55 days interest free and then charges interest thereafter, how will my credit rating be affected by paying off my debt over 12 months? Is it a negative rating?

Should I go for a long-term personal loan instead with high interest? But please note that I’m almost 100% confident I can pay the credit card off in 12 months! Need your advice. Thanks.

Can you help them out? Post your advice!

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