I suggest you run the numbers on a calculator like at bankrate.com. Figure out your payment plan and run the numbers both ways and see what the bottom line is. Also, if you decide to do this, call the credit card you are transferring to and see if they will at least cap that transfer fee at $100 or something. They are getting crazy with those darn fees.
Finally, be careful not to move balances onto a card with an existing higher interest balance. Your payments will all be applied immediately to the lower interest rate balances and those higher interest balances will just languish there at the higher rate.
I have found over the years a few things to look at.
1 is it going to take you longer then a year or two to pay the balance.
2. how is the fee paid. If it is sitting in a bill for two or more years costing you 18% then it might now be such a good deal if it is less then 3% down ward interest wise.
3. I total agree with the other poster one don't charge again on that card. Two don't have a balance on it at all if you can help it I am facing that same thing now One part of a charge card is 2.9 and the other part is 3.9 and the 3.9 is just sitting there costing me more interest a month But in my case we are only talking about about 2.00 or 3.00 but it is more.
I like First National of Omaha because they charge the
I suggest you run the numbers on a calculator like at bankrate.com. Figure out your payment plan and run the numbers both ways and see what the bottom line is. Also, if you decide to do this, call the credit card you are transferring to and see if they will at least cap that transfer fee at $100 or something. They are getting crazy with those darn fees.
Finally, be careful not to move balances onto a card with an existing higher interest balance. Your payments will all be applied immediately to the lower interest rate balances and those higher interest balances will just languish there at the higher rate.
Peg
I have found over the years a few things to look at.
1 is it going to take you longer then a year or two to pay the balance.
2. how is the fee paid. If it is sitting in a bill for two or more years costing you 18% then it might now be such a good deal if it is less then 3% down ward interest wise.
3. I total agree with the other poster one don't charge again on that card. Two don't have a balance on it at all if you can help it I am facing that same thing now One part of a charge card is 2.9 and the other part is 3.9 and the 3.9 is just sitting there costing me more interest a month But in my case we are only talking about about 2.00 or 3.00 but it is more.
I like First National of Omaha because they charge the