Repayment strategy?

[TLinFargo]

Going to be able to pay back some credit next month, I'm considering a couple options and I'd like your opinions.

I just paid off my two higher-interest cards today. Felt good! I have two more that I need to work on, plus a small auto loan:

Card 1: $2800 @ 13.24%

Card 2: $4300 @ 11.99%

Auto: $1350 @ 5.00%

I'll have roughly $3500 available to pay them down.

Option 1: Pay off Card 1 to $0, put the rest on Card 2

Option 2: Pay $3500 to Card 2, transfer Card 1 balance to Card 2 @ 0% / 12mo / 3% fee (net savings of ~$250)

Option 3: Seek a re-fi on the auto loan and roll them all together less the $3500 (there's plenty of equity in the vehicle, ~ $10K)

Option 4: ???

Thoughts? TIA!

[boomhower]

I'd probably go with option 2.  Option 3 sounds good to start but depending on interest on the loan and length of time it'll take you to pay off you it may not save you much.  Plus your scores will take a hit with a HP, new account, and AAoA hit. 

[TLinFargo]

Thanks boomhower, I forgot about the dings for starting a new account, and AAoA!

I'm considering modifying #2 slightly as I have a ~$500 purchase I need to make. I was going to pay cash, but doing the math I found that if I put that purchase on one of my paid-off cards I can use the additional cash to pay Card 2 down to zero. Then when I do the balance transfers 100% of the balance will be at the 0%/12 months rate.

[jmc912]

I would definitely go for option #2! Kill two birds with one stone... Pay off a card and get the 0% rate on the other cards banace... Win win!

[TLinFargo]

Making progress!

I've made 2 payments to Card 2 so far and it's now down to $750. Now all I need is the 17th's paycheck and it'll be wiped out and I can start transferring balances