I need help made a huge mistake today.

[saberkitty]

so I decided to tackle my med collections since they are willing to pfd. 4400 bucks worth. This would rid me of 6 of my 9 baddies. Put on credit card and realized after the fact....oh crap this credit card has an interest rate like 20 percent. So I'm curious what my best choice would be? Balance transfer? If so what is the best card for balance transfer?

currently have discover it 7500 cl 4400 bal (the one I used today)

chase slate 5200 cl 0 bal

cap1qs10000 cl 2400 bal

any suggestions are appreciated

TIA

[-Cain-]

Maybe check if Slate has a 0% APR BT option available for you?

[axlm]

For BT I would suggest Chase Slate (0% fee) or BofA BetterBalanceRewards, which gives you $25~$30 per quarter if you pay more than the minimum amount each month, so this could offset all or some of the transfer fees. Others may know better options.

To determine if you should do a BT or not, you have to know/decide how much are you going to put down monthly for payments, and do the math taking into account your current APR, new card APR and any BT fees.

Hope that helps.

EDIT: maybe try this or something similar for the math part

[Anonymous]

I've seen people on here getting 0% from Discover, but I think it's for purchases. Since you JUST 'purchased', maybe if you called to explain, you could get it. If not, as others said, try Slate or maybe even QS to see if BT would be 0% or low. 

[saberkitty]

I have slate already and discover is a couple of years old. Haven't used since January of 2014. Surely I can't get 0% now

[Anonymous]

---

@saberkitty wrote:

I have slate already and discover is a couple of years old. Haven't used since January of 2014. Surely I can't get 0% now

---

People on here have reporting getting it for purchases by calling and asking to have their APR reduced. They're usually reported being given a choice of reduced APR indefinitely or a short period of 0% (and no reduction at the end of it). 

I've not used Slate for a BT after my initial one on opening the card. When I log on, I can go through step 1 and 2 and choose which account I'm transferring to (Slate) and see that there's a balance transfer APR on my account, but I have not gone past that to confirm that it's 0%. If I were planning to do it, I'd have to call. 

[saberkitty]

Apped for citi simplicity. 10k cl 21mos 0% interest on purchases and BT.

[Creditwiser]

---

@saberkitty wrote:
Apped for citi simplicity. 10k cl 21mos 0% interest on purchases and BT.

---

Nice going, That should cover the BT and leave room on your card UTL.  Congrats on that and getting your PFD's

[Anonymous]

I have pretty much constant 0% for 15 months bt with 2% fee from my slate...you can check your offers directly from their webpage, just click on transfer a balance and your offers will show up for you to select

[-Cain-]

Way to go, grab the bull by the horns! Congrats!