Reply
New Visitor
Posts: 1
Registered: ‎12-19-2008
0

high APR balance buried under low APR balance

I goofed up big time. I transfered a balance at 3.99% APR to a card that already had a balance at 0% APR.  I thought that the 0% was for the life of the balance, but I was mistaken-- today I called to make sure, and it turns out the 0% APR expires this month, and goes up to 15%.  Both balances are around $10,000 each.

 

So now I have $10,000 at 15% APR buried beneath another $10,000 at 3.99% APR.  Is there anything that can be done about this (short of transfering all $20,000 to another card)? 

Epic Contributor
Posts: 25,591
Registered: ‎10-23-2007
0

Re: high APR balance buried under low APR balance

nope, you will have to transfer all 20k
Fico Scores: EQ- 670., TU 710 Sync, EX 728 SoFi(05/04/15)
I'm just trying to catch up to RON1
95 Cards and Counting Smiley Tongue
Highlighted
Frequent Contributor
Posts: 399
Registered: ‎04-30-2008
0

Re: high APR balance buried under low APR balance

[ Edited ]

You could try to obtain a short personal loan of $20,000.00 (30 to 60 days) where you handle your financial affairs and pay off Cap One. Once paid go back to Cap One and try another 3.99% balance transfer and pay off your personal loan.

 

Not sure the APRs for personal loans may be, but I would guess it would be lower than that 15% APR.

 

Sorry to hear of your dilemma.

 

Good luck

Message Edited by Cleanmachine on 12-19-2008 05:39 PM
Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.