@Anonymous wrote:
BOA Cash Rewards - 657/2000 Limit (0% APR expires Feb 11)
BOA Platinum - 4059/6200 Limit (0% APR expires in June)
BOA BBR - 685/2000 Limit (0% APR expires in May). On this card, I could pay this off before it expires.
Citi - 2986/5000 Limit (0% APR expires in August)
Now I have a few offers I can work with as well:
Capital One QS (10,500 limit) - 0% APR for 12 Months with 2% fee. Expires Feb 21st
Citi DC (2,900 limit) - 0% APR for 18 Months with 3% fee. Expires May 14.
Discover (5,900 limit) - 0% APR for 12 Months with 3% fee or 4.99% ApR for 18 Months with no fee. I didn’t list the expirating date because the same offer shows up the next day.
What’s the best way to go about doing these transfer? I really wanted to use the DC since it has 18 months no interest but I have a low limit unfortunately.
How fast will you be paying off the debt of 8,387? sometimes it's best to put it all in one card that way you can see your progress and know where all of your debt is much easier. You would go from 65% utilization as your highest to just 81% with all of your debt on the Capital one card including the fee to transfer. So if you can make a big starter payment then you should see an increase since you won't have utilization on all the other cards but just one.
As of 11/28/2018
Thanks for listing out the offers, are those the only cards you have? No other balances?
As noted, it is best to look at these in total. $8k is a significant amount of debt on cards, if you are juggling this many 0% on relatively recent card apps.
Some important questions to ask yourself: How fast are you spending, to get the cards to this level: and what amount are you paying each month to reduce the debts. You only mention you could pay off one of the smaller items by May, no comment on the same amount that expires in a few weeks.
Any sggestins for how to proceed need to take account of how fast you pay. You have several options, but you also have a lot of room to get further into debt while seeming to be 0% apr.
@Anonymous wrote:
BOA Cash Rewards - 657/2000 Limit (0% APR expires Feb 11)
Knock this out first if you can pay all of it to avoid interest charges
BOA Platinum - 4059/6200 Limit (0% APR expires in June)
BOA BBR - 685/2000 Limit (0% APR expires in May). On this card, I could pay this off before it expires.
Knock this out second that will leave you with 2 balances on the 2 other cards
Citi - 2986/5000 Limit (0% APR expires in August)
Now I have a few offers I can work with as well:
Capital One QS (10,500 limit) - 0% APR for 12 Months with 2% fee. Expires Feb 21st
Citi DC (2,900 limit) - 0% APR for 18 Months with 3% fee. Expires May 14.
Discover (5,900 limit) - 0% APR for 12 Months with 3% fee or 4.99% ApR for 18 Months with no fee. I didn’t list the expirating date because the same offer shows up the next day.
What’s the best way to go about doing these transfer? I really wanted to use the DC since it has 18 months no interest but I have a low limit unfortunately.
We really need to know how much you can pay down towards debt each month. No need to do a BT and pay BT fees if you can put $500-$1000 towards these each month. You need to SD these cards until the balances are paid. More info would be great. This is totally manageable.
