I have a total of 20k in credit card debt.. one card is 15k maxed out and another card is 5k maxed out. I fell into some hardship during covid and began using the cards a lot in the last 2 years. The 15k credit card has a 27.24% APR and the 5k credit card has a 21.74% APR. I recently applied for two credit cards and was approved one of them I was approved for 1k 0% for 21 months on balance transfers from date of first transfer .. all balance transfers has to be done within 4 months of opening the account and a 3% transfer fee of each transfer after the 4 months it’s 5% and another was approved for 6.2k 0% for 18 months balance transfer 3% transfer fee & 5% on future transfers … now these cards are 0% so I’m thinking of transferring the majority of the 15k balance onto the 6.2k card that would leave about 9k on it with interest but then I would have a minimum payment on the 6.2k card and the 9k card and the 5k card but I want to be sure that that is the smart option and fastest way to pay down my credit cards with less interest? Am I looking at it in the wrong way or is there anyone who can see any flaws in my plan ?
Submitted January 30, 2023 at 11:19PM by Snoo22366 https://ift.tt/osfWPhg
