Hi friends,
My situation is this. I have a Go rewards cc with NFCU with a balance of about 2000, with an interest rate of 18%( I didn't qualify for a reduction). Due to some events occurring within the past few months, I ended up making some charges to his account and want to get it paid down as quickly as possible. We also have a Visa card with our local CU with a limit of 5k with an int rate of 12%. This card has a zero balance currently. Initially, I was thinking that I could transfer my NFCU balance to the CU card just for the lower interest rate. Today, I got an email about a balance transfer offer from Navy for 2.99% for 12 mos. My question is this: If I transfer this balance now, to my CU, then transfer it back to Navy before the deadline in March, would it still qualify as a true balance transfer, therefore taking advantage of the lower int rate?