Need some advice ...

[Anonymous]

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@Anonymous wrote:

2 BOA cards, 2 Chase cards, total credit limit is 70K. Semi retired 40K income. No inquiries done yet. Sorry I dont know what "AAoA" means. Total credit card debt is 13K.  

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AAoA means average age of accounts

[Anonymous]

AAoA is more than 15 years. Never late or a missed payment.

[Anonymous]

799 with two chase cards, good AAoA: Depends on what the two chase cards are. 

I'm going to preface this by saying that you're only delaying the hit and should focus on paying off the debt to get stable again.

A quick good search showed me that Discover IT, Chase Freedom, and Chase Slate all of 0% APR on balance transfers (as well as lots of other cards). Slate seems to be somewhat unique in that they waive the standard 3% BT fee if you make the transfer within the first 60 days of having the card. I'd guess that Chase Slate is the best option for you, but BTs are not something I'm particularly knowledgable about. 

[Anonymous]

You might check bankrate.com, under what you are interessted in select credit cards then balance transfer.  They will show you a variety of cards that offer deals on balance transfers.  Beware of balance transfer fees.  Consider that if they charge 4% to transfer your balance to them, they are immediately adding $480 to your balance.  You will need to pay $693/month to pay it off in those 18 months or face another balance transfer with more balance transfer fees.  You did not say what your current interest rate is, but unless it is double digits, you might just want to pay off your current card as is.  Good Luck.

[Anonymous]

lots of good advice  -  thanks all

[Ghoshida]

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@Anonymous wrote:

lots of good advice  -  thanks all

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Please be mindful that Chase will often not allow balance transfers between its cards. Also, they generally don't send you cheques to write to yourself; rather, they perform the transaction directly with your other lender(s). If your debt is on the Chase cards then I'd look elsewhere than Slate. 

Discover also offers good BT rates (mostly 12-18 months, 0% APR). In that case, I would take up that offer, and remember not to purchase anything on that card till the balance is paid to zero.

[Anonymous]

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@Anonymous wrote:

You might check bankrate.com, under what you are interessted in select credit cards then balance transfer.  They will show you a variety of cards that offer deals on balance transfers.  Beware of balance transfer fees.  Consider that if they charge 4% to transfer your balance to them, they are immediately adding $480 to your balance.  You will need to pay $693/month to pay it off in those 18 months or face another balance transfer with more balance transfer fees.  You did not say what your current interest rate is, but unless it is double digits, you might just want to pay off your current card as is.  Good Luck.

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+1

I was trying to get at this, but there are two key figures for you to look at: 1) The APR on the balance transfer (i.e., the month-to-month interest rate that you'll pay); and 2) The balance transfer fee (the cost of doing the actual transfer, typically the greater of $5 or 3%, but it is card dependent)

[jamesdwi]

perhaps citi, if your current balance isn't on a citi backed card,  with an AAoA of 15 years and 799 i can't see you getting denied. They have more than a few cards that offer 15 months 0 percent APR

[Anonymous]

I should have mentioned this - sorry      The debt is with my high limit (39K) BOA card

[Ghoshida]

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@Anonymous wrote:

I should have mentioned this - sorry      The debt is with my high limit (39K) BOA card

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Then you should be good with Slate. Given your prior relationship with Chase, you might get good rewards.

I suggest looking at the Chase pre-qual site. Their offers are generally good indicators of your approval odds.