I should...
...keep paying the minimum due until the rate goes up.
2(11.8%)
write a large check to drop the balance before the rate goes up.
4(23.5%)
pay it all off before the rate goes up.
11(64.7%)
As always with financial questions, the "why" is more useful in the long term than the "what", so post vociferously. While we're at it, what makes the most sense for my credit rating (in general) - paying off the balance before the statement is written every month or letting them charge me a little interest?
Edit: I know the bottom option is the one that will save me the most money in the short term. But every little bump in my credit rating will make getting a mortgage easier for the house I'm buying, and I know that your credit goes up when you make monthly payments and down when you make lump sum payments. What's the cost-benefit analysis look like?
