Credit Consolidation Help/Advice needed

[Anonymous]

I currently have balances on 3 cards that I want to consolidate and pay.  They are as follows:

Chase: $1453.00 (Interest 16.0%)

Capital One: $119.45 (Interest 19.15%)

Capital One: $279.50 (Interest 14.9%)

Total: $1851.95

I just got these 2 offers (I have both these cards)

1) US Bank: Prime + 0% for 9 months, 3% transfer(current prime rate is 8.25%)

2) Chase - 0% until March 08 or 5.99% until balance paid in full (my credit limit $1500) <--the card above

Because I cannot figure it out can someone give their opinion if it would be a good idea to use US Bank to pay off the 3 cards then a couple of weeks later use the Chase offer to transfer about 1400 back to Chase.  Is this just me wasting money in transfers and not really benefitting in the end?  Or should I just use the US Bank offer to consolidate.

[Anonymous]

IMHO- not much $ will be saved -if any esp with BT fees.

Set a 2,3,4,5 month plan to pay them off to very low balances. (under 10% utl.)
When you are not paying interest - intrest rates don't matter.

[Anonymous]

I would work to pay off this one first:

Capital One: $119.45 (Interest 19.15%)- considering the smaller size and high interest rate.

Then I would request a cli on the Chase (a long shot, but worth a try), transfer the other small balance on there using the promo, and then work to pay off that card

OR

simply setup a 3-5 month plan with realistic goals and go for it (but again, focus on that high interest rate one, first)!

Good luck!

Message Edited by pjriverap on 10-01-2007 10:36 PM