Transfer a balance or not

Date: Fri, 09/07/2012 - 20:57

Submitted by anonymous
on Fri, 09/07/2012 - 20:57

Posts: 202330 Credits: [Donate]

Total Replies: 3

I have 4 credit cards. One with 18,000 and 9.9% (BOA) since 1989. One with 1770 and 0% until 4/13 (us bank) (10000 available). One with 2700 (Kohls) and another with 500 (old navy). I pay 450 on BOA. I have an offer with us for 0% for 18 months until 2/14. I have an offer on BOA for 0% until 6/13 but only 2000 available to tx. Should I consolidate old navy and kohls onto the usbank and keep paying down BOA because of the 0% for 18 mos and then tx everything left onto BOA so I have 1 payment? I also have student loans coming up in 11/12 totaling $26,000 for 10 years. Help. I don't know which way to go.

Transfer the Kohls and Old Navy first. Those are the worst in te

Transfer the Kohls and Old Navy first. Those are the worst in terms of APR.

Remember you can transfer student loans as well once you knock out those credit cards. I am paying no interest on my student loans from transferring them to a CC and will be paid off by March 2013.

lrhall41

Submitted by waffles on Fri, 09/07/2012 - 21:01

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It is never advisable to transfer student loans to a credit card

It is never advisable to transfer student loans to a credit card.

Have you consolidated your student loans with Direct Loans? It can make the repayment so much easier.

lrhall41

Submitted by SOAPLADY on Sat, 09/08/2012 - 05:19

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Care to say why...? As for consolidation, that's only applicabl

Care to say why...?

As for consolidation, that's only applicable if you have federal loans which many of us don't. My federals are paid off and I still have private loans. Furthermore if you are responsible with planning how much you'll pay and can get a high credit limit on your card, a CC balance transfer will save you in paying interest as it is currently saving me.

lrhall41

Submitted by waffles on Sat, 09/08/2012 - 09:35

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