Credit Card Shuffle
December 26th 2007 14:40
Many of you know I decided to charge a little over $6000 worth of my tuition for my last semester of school. Well, I have to make a new plan with them.
Here's why: the new credit card (Card A) won't increase my limit to allow me to transfer all of Card B's amount to Card A. And Card B is soon to lose the 0% APR.
My solution: I have another credit card that I increased the limit on as my "backup plan." (Apparently it was a good plan haha!) They have a few balance transfer offers that have way better than the 11.99% that Card B will be, as well as lower rates than private loans would have had. So looking at it that way I'm in good shape.
There are two offers that I am debating. One is 0% APR until May 1st, 2008. The other is 4.99% until the balance is paid off. (They both will have a fee unfortunately).
I think I'll be going with the 0%, because I hope I can have it paid off by then. (If not I can always transfer it back to Card B at a low rate, right?)
Argh, I really wish there was an easier way to do this debt thing.
Here's why: the new credit card (Card A) won't increase my limit to allow me to transfer all of Card B's amount to Card A. And Card B is soon to lose the 0% APR.
My solution: I have another credit card that I increased the limit on as my "backup plan." (Apparently it was a good plan haha!) They have a few balance transfer offers that have way better than the 11.99% that Card B will be, as well as lower rates than private loans would have had. So looking at it that way I'm in good shape.
There are two offers that I am debating. One is 0% APR until May 1st, 2008. The other is 4.99% until the balance is paid off. (They both will have a fee unfortunately).
I think I'll be going with the 0%, because I hope I can have it paid off by then. (If not I can always transfer it back to Card B at a low rate, right?)
Argh, I really wish there was an easier way to do this debt thing.
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