@Tg123 wrote:
The APR defaults to high 18.99%. Currently 9.9% on my account. Please advise. It is possible to pay off before 12 months I just dont know the amount I should transfer to the new account
I'll say what I would probably do but it's just my opinion and not necessarily the right thing for you.
I would be nervous about maxing out that brand new card because Discover might also get nervous if they see you BT'ing the entire CL all at once. I would BT half the CL of the new card; in this case about $5,000. That would make the utilization about 48% (5,000/10,5000) which is pretty high but not enough to draw the attention of Discover IMO. This would make your payments about $417 a month to pay off in a year
That would leave the utilization on the original card at 24% (5,9000/25,000).
I realize this won't save the $200 a month in interest that you talked about but you'll still save interest and hopefully can get both balances paid off in a year.
However I've made plenty of credit mistakes in the past (still do) and others might have much better ideas than mine.
From a BK years ago to:
EX - 3/11 pulled by lender- 835, EQ - 2/11-816, TU - 2/11-782
"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".
