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Paying off one credit card with another?

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longtimelurker
Epic Contributor

Re: Paying off one credit card with another?


@Anonymous wrote:

If it is indeed retro...you got no choice but to BT

That retro B.S. is the worse.....

 

To ANYBODY considering a deal like that....you've got to budget yourself in way to schedule yur payoff HALF-WAY thru the promo period,

that way if one of life's hiccups happpens you've gor recovery time.

 

But getting down to the end, and banking on a miracle is way too dangerous to your pocket (luckily the OP here has an out...most don't).

some will say but I can't afford that to which I ask ppl to record themselves and learn to themselves, if you can't, you should leave the item in the store, until you can w/o killing your finances (here again this OP, is fine it's just a few payments more but the BT was required for the rescue..)


Right, but for many "proper" uses of this particular card, it is some sort of human or animal medical emergency, so sometimes you have little option

Message 11 of 14
Mshellt
New Contributor

Re: Paying off one credit card with another?

I wonder why pay day loans are considered predatory lending, but interest rates on the paid-off protion of a medical use credit card isn't!


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Message 12 of 14
fltireguy
Valued Contributor

Re: Paying off one credit card with another?

Simple. Because Care Credit charges 27-29%. Not 150-300%
NFCU $60.4k/PenFed $22.5k/Commerce $15K/53 $11K/Synovus $14K/BBT $11K/CapOne $12K/DCU $7.5K/BMO $7.5K/Chase $14.5k/Cabelas $10K/ and many many more!
Total CL $398600, plus car and RV loan.
Ooh. Ooh. Getting closer to that $500K mark!
Message 13 of 14
longtimelurker
Epic Contributor

Re: Paying off one credit card with another?


@fltireguy wrote:
Simple. Because Care Credit charges 27-29%. Not 150-300%

And there is a way of avoiding interest with Care Credit, not the case with pay day loans.

Message 14 of 14
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