Chase 0% balance transfer offer, no fee: worth?

[nc]

I got 0% BT offer from Chase up to $3,750 that ends 05/2012, no transaction fee, credit limit is $7500. 

Major accounts:

Amex: $20,000, no balance, paying in full every month.

Furniture loan @0% for 48 months, remaining balance: $3,700.

Auto loan @2.99%, remaining balance: $8,000

Is it worth taking advantage of this offer? In this case my auto loan would be reduced to half and will save some money. I am thinking about buying house in next 6-8 months or so.

My FICO scores from EQ and TU are just above 750 and I have 6 years of clean credit history. I think my score will go down, any idea how much points I would loose.

Thanks

[thrasher865]

If something comes up and you don't pay that $3750 balance by 05/12, you'll be paying a lot more than 2.99%

I would just leave it alone and pay extra on the car loan if you can afford it.

[Uborrow-Upay]

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@thrasher865 wrote:

If something comes up and you don't pay that $3750 balance by 05/12, you'll be paying a lot more than 2.99%

I would just leave it alone and pay extra on the car loan if you can afford it.

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+1

[nc]

I am quite comfortable paying auto loan in full at this moment. The reason I have kept it and would like to keep it is to maintain credit mix. This should boost my score in long run. I earn good amount and save a pay check every month.

I am not thinking about short term here but eyeing on home loan after some time. What impact this balance transfer may have on my home loan application? I will put 20% down and will apply for home loan after reducing auto loan to less then half and paying 100% back to Chase i.e. after “05/2012”.

I think you guys changed my mind and at the end it is not worth doing!!

Thank you!!

[Anonymous]

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@nc wrote:

I am quite comfortable paying auto loan in full at this moment. The reason I have kept it and would like to keep it is to maintain credit mix. This should boost my score in long run. I earn good amount and save a pay check every month.

I am not thinking about short term here but eyeing on home loan after some time. What impact this balance transfer may have on my home loan application? I will put 20% down and will apply for home loan after reducing auto loan to less then half and paying 100% back to Chase i.e. after “05/2012”.

I think you guys changed my mind and at the end it is not worth doing!!

Thank you!!

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Good!   Most of BT offers are sounds good.   You did the right thing to ask around before jump on it.