Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
The current Chase slate is your best bet if the current debt isn't with Chase.
Their offer is a 0% APR for 15 months and no transfer fees on transfers within 120 days of opening. I've been thinking about opening one up for an upcoming big purchase.
My brother put his now wife's engagement ring on a 0% cc. He did a few balance transfers during the course of paying it off because he had student loans that were at a higher rate, so paying off the 0% card didn't make sense, and the transfer was equal to a 3%/year rate if it gave him 0% for a year(slightly higher because interest was due up front, but that's minor details).
The point is, you can do it and it can save you a lot, but realize that if there's a transfer free, it's not 0% anymore.
I just transferred ~3k to a cc and my fee added to be $99. I don't think this fee can even touch a 2 digit interest rate and I certainly believe if I would've kept paying on the cc with the previous company, I would have paid much more than $99 over time.
Apply for a new credit card to do balance transfer before December? Yay/nay?
I had an emergency come up earlier in the summer so I put it on my credit card - $2,000. I have no interest until December, so I'm trying to pay it all off before then obviously, but if that doesn't happen, should I apply for a new credit card with 0% interest and then transfer the balance and then work on paying it off? The only way I could entirely pay off the card is if I practically cleared out my savings, which I really don't want to do just in case there's another emergency.
Nay.
Go into survival mode (extreme frugality) and get as much paid off as you can by the end of November.
If it's not at -0- by then, take the balance out of your savings and pay it off.
Easier than playing games with CC's.
Nay.
Go into survival mode (extreme frugality) and get as much paid off as you can by the end of November.
If it's not at -0- by then, take the balance out of your savings and pay it off.
Easier than playing games with CC's.
I'm not sure if you think it's easier to be in extreme survival mode than most people or if you think "playing games with CC's" is harder than most people, but in either case I think you're wrong.
A balance transfer takes 10-15 minutes to sign up for the new card and 5 minutes later to do the transfer. Compare that to months of sacrifice and it's definitely easier to do the transfer.
Personally, I'll take all the free money people want to give me.
4 months of frugality to get rid of a debt permanently? Easy peasy.
And honestly, the OP wouldn't even have this problem if they'd had enough emergency savings to cover a $2K bill. Maybe they need to live more frugal to get the savings higher so this problem doesn't happen again.
And you and I are never going to agree on debt payment and loans at 0%.
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.
Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
