TLDR put my 7.2% student loan on a 0% credit card to pay it off faster.
In my case it's a student loan for $11,600. I just got a note from my devil of a student loan company that they raised my interest rate from 4% to 7.2%. Today I also received an email from Wells Fargo about their new Wells Fargo Visa Signature Card (not promoting them, any credit card company should work) that has 0% interest for 18 months with $0 annual fee. So I called Wells Fargo, told them what I want to do, and got the full amount transferred. Now, since I had planned to have that loan paid off in 18 months anyway this make it SO much easier to pay it off faster. I'm taking the interested that I would have been paying on that loan and applying it towards the balance. Now I'm not paying interest to nothing and instead my full payment goes towards my principle so it will be paid off even faster. Woop!
October 13, 2017 at 01:42PM
