Credit Balance Transfer to another card before finances charges hit

[bossladydavone]

Hello:

I have a care credit card that the interest free is about to end August 2014 and I dont have the amount to pay it in full. They will add on the interest which is $800. My credit score is 700 should I apply for a discover IT and do a balance transfer to that or I have a chase freedom that I can move the balance over to as well. Also I might be coming into some money in the next 6 months or less and my plans is to pay off all of my credit cards should I just wait until then and eat the $800 finance charges????

[john398]

No do not eat the $800 in finance charges, do a balance transfer

[MsLadyRover]

Definitely do a balance transfer instead of paying $800 in interest.

[bossladydavone]

Thanks for responding so quickly. Another question do I do the balance transfer to my chase freedom or apply for a discover IT card. My fico across the board is 700. Ive been getting pre-approval letters left and right but havent opened any thing up recently. Thanks in advance for your help and advice.

[Cleanmachine]

I am not so sure that you should apply for another credit card with just the information you provided, especially since you have filed bankruptcy.

$800.00 in finance charges seems extremely high, How did you come up with that amount?

What is your current balance on this card?

What is your minimum payment?

What would the APR be in August?

Is your current credit score from FICO?

Would be helpful if you would provide additional information.

[bossladydavone]

The bankruptcy has dropped from my credit report as of March this year. The current balance on the card is 2500. I had 18 months to pay back a $4000 charge I made for medical expenses. The min payment is $80 a month. The APR will be 20 percent in August. Yes my current credit score is from FiCO I ran it yesterday to be exact.

[Cleanmachine]

Fast response.....Thank you...

Twenty percent is a little high.

In lieu of the cards you have indicated, may I suggest you look at the Chase Slate Card.

Currently they are offering 0% for the first 15 months, in addition, if you balance transfer

within the first 60 days there will be no balance transfer fees.

In my opinion, I would suggest this card. Seems like a win, win for you.

Good luck

[bossladydavone]

Ok I'll consider that. I have until August I'm trying my best to come up with the money to just pay it off before then but if I don't I'm going with the option of transferring to chase freedom where I have a 7500 limit or possibly open up the chase slate or discover it card but I didn't want a hard hit on my credit since I'm at 703 and it might bring me to below 700 that's my issue I'm battling with.

[john398]

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@bossladydavone wrote:
Ok I'll consider that. I have until August I'm trying my best to come up with the money to just pay it off before then but if I don't I'm going with the option of transferring to chase freedom where I have a 7500 limit or possibly open up the chase slate or discover it card but I didn't want a hard hit on my credit since I'm at 703 and it might bring me to below 700 that's my issue I'm battling with.

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it should only be a temporary hit and you will rebound

[bossladydavone]

Thanks John!!!!!!!!!!!!!!!! Thats the answer I was looking for will this affect my credit and drop my score and you answered that with it will only be temporary .... Ok so Im going to look into the Chase Saphire since Chase has been good to me

Or do you suggest a better balance transfer card?