@WannabDebtFree1 wrote:
Update all as I have recently App and got approved for Bbva card, NFCU platinum, and Discover IT card totaling $10,100 SL and all 0% now for at least 12 months or so, that I'm thinking of spreading out amongst some balances I have about to come off 0% based upon the feedback I've gotten from this forum to do a couple things. 1) lower util on high interest cards and save that way 2) build relationships with NFCU and Discover as I've heard they'll likely raise limits after 3-6 months 3) pay down some debt through BT 4) go garden while these trying times and pay down balances but contemplating app for 1 more card for BT SL to $15k total but not gonna try if I don't have to. Thoughts/feedback?
Wow those are some issuers to get approved with and a decent increase in SL.
With the 0% APR balance transfer cards what you can do is put all your spend on those at 0% APR and then concentrate the cash flow in paying down the CSP. Actually I would probably use the BBVA and Discover for the 0% APR because NFCU from January 1st to February 28th offers 0% APR no fee BT. At that point what you can do is BT the balances from BBVA and Discover over to NFCU at 0% or maybe 1.99% interest.
If you do a BT from your CSP to BBVA or Disco you'll have to pay a 3% BT fee. I've paid the fee before but I had a lot larger balances like 80k instead of 8k that I was trying to manipulate for lower rates. In your case it might not be worth the fee.
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