We have a debt on a credit card with a16.99% APR. I received an offer to transfer this to another card with 0% for 6 months, thereafter 3.99% until paid off. Of course there is the 3% transfer fee. I can calculate what impact this will be on the monthly interest (including the 3% transfer rate), but how do I determine the monthly payments and compare if this makes sense to do (specifically the cost of the transfer vs the savings in long term interest)? Thanks.
When is it Right to transfer a Credit Card Debt?
It is sounds right to do, because the transfer fee will have a up limit - like 3% or $99 for max. And use the one with 3.99% APR for until you pay off. Read again, I don' t think it is 0% and 3.99 afterward.... take it.... because most likely you are accumalating debt on other credit card. And you need to calculate that on it.... complicate math, but it sounds definitely good to transfer.
Reply:dump that crappy card company...and when you shop.look for low intrest rates
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