I have a question: should i transfer my Walmart Discover balance to my Chase Freedom Card?

[alexia26]

Hi Guys!

I have a question: Should I transfer my Walmart Discover Balance to my Chase Freedom? I'm paying down my debt i was wondering if you guys think it's a good idea. I want t0 transfer my balances because my freedom card has 0% balance transfer tl next auguest and my Walmart Discover card has interest rate of 22.90%. i know if i ctransfer the balance ill be over 50% of my credit limit. i only used my chase freedom for balance transfers so i haven't made any purchases since i got the card. I'm okay if my balance is all on one card and not on multiple cards and i can apply payments just to that one card.

Here are my list of cards:

                                                               Balance/Credit limit

1. American Express Everyday               0/2500

2/ Amazon Chase Visa                             0/700

3. Chase Freedom                                     1500/3000

4.Capital One Platinum

   (Just Upgrade to QuickSilver One)        0/1800

5. Barclay (Apple Financing)                      0/2290

6. Walmart Discover                                      1224/4500

7. Citi Diamond Preferred                              0/1000

8. Santander Easy LOC                                  1500/2500

9.Discover                                                           0/500

I Closed 2 credit cards a 2-3 days ago.

1. Continental Finance                               0/1050 (second longest card)

2.  First Premier Bank                                  0/1075

I'm glad i don't have them anymore. So they forever gone and now i have better cards. I do thank them for helping me rebuild my credit. Capitalone was my very first card so im keeping that for now. I think i'm off topic now, sorry about that. I'm new to posting on here. Thanks for any help advice or guidance you can give me.

My credit scores are TU: 693, Ex: 664, EQ: 654

[jsucool76]

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@alexia26 wrote:

Hi Guys!

I have a question: Should I transfer my Walmart Discover Balance to my Chase Freedom? I'm paying down my debt i was wondering if you guys think it's a good idea. I want t0 transfer my balances because my freedom card has 0% balance transfer tl next auguest and my Walmart Discover card has interest rate of 22.90%. i know if i ctransfer the balance ill be over 50% of my credit limit. i only used my chase freedom for balance transfers so i haven't made any purchases since i got the card. I'm okay if my balance is all on one card and not on multiple cards and i can apply payments just to that one card.

Here are my list of cards:

                                                               Balance/Credit limit

1. American Express Everyday               0/2500

2/ Amazon Chase Visa                             0/700

3. Chase Freedom                                     1500/3000

4.Capital One Platinum

   (Just Upgrade to QuickSilver One)        0/1800

5. Barclay (Apple Financing)                      0/2290

6. Walmart Discover                                      1224/4500

7. Citi Diamond Preferred                              0/1000

8. Santander Easy LOC                                  1500/2500

9.Discover                                                           0/500

I Closed 2 credit cards a 2-3 days ago.

1. Continental Finance                               0/1050 (second longest card)

2.  First Premier Bank                                  0/1075

I'm glad i don't have them anymore. So they forever gone and now i have better cards. I do thank them for helping me rebuild my credit. Capitalone was my very first card so im keeping that for now. I think i'm off topic now, sorry about that. I'm new to posting on here. Thanks for any help advice or guidance you can give me.

My credit scores are TU: 693, Ex: 664, EQ: 654

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If it's gonna take you a while to pay off, I would say yes. 

[myjourney]

If it saves you money then and only then does it make sense 

[alexia26]

I think it does make financial sense. The interest is $23.00. and The minimum payment is $37. 

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@myjourney wrote:

If it saves you money then and only then does it make sense 

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[alexia26]

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@jsucool76 wrote:

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@alexia26 wrote:

Hi Guys!

I have a question: Should I transfer my Walmart Discover Balance to my Chase Freedom? I'm paying down my debt i was wondering if you guys think it's a good idea. I want t0 transfer my balances because my freedom card has 0% balance transfer tl next auguest and my Walmart Discover card has interest rate of 22.90%. i know if i ctransfer the balance ill be over 50% of my credit limit. i only used my chase freedom for balance transfers so i haven't made any purchases since i got the card. I'm okay if my balance is all on one card and not on multiple cards and i can apply payments just to that one card.

Here are my list of cards:

                                                               Balance/Credit limit

1. American Express Everyday               0/2500

2/ Amazon Chase Visa                             0/700

3. Chase Freedom                                     1500/3000

4.Capital One Platinum

   (Just Upgrade to QuickSilver One)        0/1800

5. Barclay (Apple Financing)                      0/2290

6. Walmart Discover                                      1224/4500

7. Citi Diamond Preferred                              0/1000

8. Santander Easy LOC                                  1500/2500

9.Discover                                                           0/500

I Closed 2 credit cards a 2-3 days ago.

1. Continental Finance                               0/1050 (second longest card)

2.  First Premier Bank                                  0/1075

I'm glad i don't have them anymore. So they forever gone and now i have better cards. I do thank them for helping me rebuild my credit. Capitalone was my very first card so im keeping that for now. I think i'm off topic now, sorry about that. I'm new to posting on here. Thanks for any help advice or guidance you can give me.

My credit scores are TU: 693, Ex: 664, EQ: 654

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If it's gonna take you a while to pay off, I would say yes. 

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I thought the same thing and while i'm paying them off they're going to make alot of money off me in interest.

[alexia26]

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@alexia26 wrote:

I think it does make financial sense. The interest is $23.00. and The minimum payment is $37. 

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@myjourney wrote:

If it saves you money then and only then does it make sense 

---

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not that i make just the minimum payment , i was comparing the two if anyone got that.