I just did the math on doing a BT on all 3 cards to the NFCU and with a $500 monthly pymt it will take you 24 mo to pay it off...12 more months than you will be given the low APR for if you do it now, 15 more than if you wait until Mar as another poster said. That's not including the now $1600 bal that requires pymts on it ...that if you want paid off as well prior to the )% ending is another $133/mo pymt...plus your other expenses and God forbid if you start charging again on the personal cards after you transfer to the NFCU! I think you need to find a way to increase the amount you pay towards the existing balances every month rather than looking for a holy grail BT or loan. As for the business endeavor, my parents taught me not to count your chickens before they hatch....which seems like good advice in this situation. How are you planning to handle returns of your product? Have you tested the quality and longevity of these chargers and other electronics? What if they start being taxed heavily with import taxes that doubles or triples the cost? Just some things that come to mind for me when I read your business model.
Thanks Emma I think I will call prior to doing it but will definitely be transferring it to NFCU.
This will drop my credit for high UT but significantly raise my fiancee's credit she's currently at 48% overall UT and 80% + UT on 3 lines. She was at 710 before the high UT now she's at 680. I'm hoping if we do this her scores will shoot to about 730 and she can stay in the Garden until 760 and by then we are hoping to have everything PIF which then will give us the freedom and breathing room to get an auto loan, and yes that is necessary our car is at 180k miles and we're hoping/praying it will last until the end of this year.
Oh and we just made our first sale $400 (200 units) to a medium sized retail store with multiple locations they want to see how they sell and if they sell well they will be long time returning customers
This will drop my credit for high UT but significantly raise my fiancee's credit she's currently at 48% overall UT and 80% + UT on 3 lines. She was at 710 before the high UT now she's at 680. I'm hoping if we do this her scores will shoot to about 730 and she can stay in the Garden until 760 and by then we are hoping to have everything PIF which then will give us the freedom and breathing room to get an auto loan, and yes that is necessary our car is at 180k miles and we're hoping/praying it will last until the end of this year.
Oh and we just made our first sale $400 (200 units) to a medium sized retail store with multiple locations they want to see how they sell and if they sell well they will be long time returning customers
@Matt4200...that is awesome news!!
Congrats on your first sale of 200 units...you'll always remember that one!!! Here's to many more to follow!!
