Mogul of Pineapples
- Centurion Member
- Posts: 1271
- Joined: Sun Jun 01, 2008 11:32 pm
- Location: Smogland
Welcome to the forum!
Well have you been making any purchases on the card too? If you've made purchases using the card while you have a balance transfer, all payments "will go towards the lower interest rate first" they like to say. Which basically means your payments are going towards paying off the balance with the 0% and not the balance with the standard APR.
When the intro period ends you will not be charged any accrued interest for the past year. That's ridiculous that someone said that. The interest will switch to standard APR from the day the promo expires and onward.
I recommend paying off the balance with your savings. Your savings is only earning 1 to 3% and your credit card is charging 10 to 15%. Sure, you may need that savings in an emergency, but you can always put that amount back on the card if that were to happen.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.
Current Cards: American Express:
Blue Cash, Simply Cash Bank of America:
WorldPoints Platinum Plus Chase:
Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi:
Thank You Premier, Dividend Platinum Select Discover:
MorePrimary Everyday Card: American Express Blue CashPrimary Travel Card: Chase Sapphire Preferred