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About LinkBacksHi everyone,
I have made a couple of large purchases (~$9k total) split between two different cards. My income is sufficient to pay this off within 4-5 months, but if I go with that option, the interest on the cards (both ~15-17%) will accumulate on top of the principal balance.
My credit score is ~750. I was wondering if it would be a good idea to apply for a new card with 0% intro APR on balance transfers and transfer both of the existing balances to the new card and then pay it off.
That plan makes sense to me logistically, but I just wanted to make sure it was reasonable and realistic. What do you guys think?
Thanks in advance for any help!
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Green Member
- Join Date
- May 2011
- Location
- TX
- Posts
- 1
Transferring balances onto one card for a 0% offer?
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Centurion Member
- Join Date
- Jun 2008
- Location
- Smogland
- Posts
- 1,399
As long as the 0% offer won't be a mental deterrent to paying down your balance, then yes, transferring to a 0% offer will certainly make sense. Give your credit score I don't think you will have any problem getting approved for a good offer.
If you check out the 0% credit cards for transfers page you will see ads for several promotions. Right now there is one on there for 21 months.Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed. Regardless, anything I say is my honest opinion.
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