This topic contains 2 replies, has 3 voices, and was last updated by Anonymous 8 years, 2 months ago.
- May 15, 2011 at 6:34 pm #216206
I have a cap one card with a 900-1000 debt on it and the finance charges are around 15-20 a month. I’m think of transferring the balance to another card.
Here are the details:
1.99% rate on balance transfers until November, 2008
There is a balance transfer fee of 3.00% of each balance you transfer with a minimum of $5.00 and a maximum of $75.00 per transfer.
If it’s not paid by November the Apr goes to 19.99%
The Balance on the Capital One card is 906.45
- June 1, 2011 at 4:05 pm #285663
Take the balance transfer, if it is a better interest rate
Divide the amount you are borrowing and divide by 9 months(to Nov 2008) and thats how much you will need to pay back before incurring the higher interest rate. DO NOT use the card for any purchases once you transfer the balance. Call the card company and see if you can get the rate lower or extended time period. Call your other card companies if you have them and see what rate they can give you.
- June 7, 2011 at 4:41 am #286629
Balance transfers can have a negative impact on your credit.
Read this article…
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