Need help with Chase freedom

[creditfan]

@Dustink

I can save up some interest for 15mo

@09Lexie

I plan to pay $50 monthly and pay the rest before my 0% promon end

[09Lexie]

Is that over the reg mo pyt?

[creditfan]

@FinStar

my student load they allow credit payment so I won't incur any transaction fee. fixed $55 by due day and fixed interest rate is 5%, Principal ~5k

[09Lexie]

I believe FinStar was referring to the BT fee

[09Lexie]

You might have been better off with the Slate if you were planning on a BT

[FinStar]

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@09Lexie wrote:
You might have been better off with the Slate if you were planning on a BT

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+1

@Typically, the Slate going rate is 0% @ 18 months and no BT fees.  Now, as far as what CL one would qualify for would depend on the individual's credit/income profile.  So, maybe the limit may have been congruent to the Freedom (similar u/w criteria).

[creditfan]

since I have my first credit card I have ever do BT nor I know how. leave it as it

as I mentioned, I pay my loan is just like I pay my phone bills, cable TV bills, etc

[Dustink]

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@creditfan wrote:

@Dustink

I can save up some interest for 15mo

@09Lexie

I plan to pay $50 monthly and pay the rest before my 0% promon end

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You will realize very little benefit since you need to pay in full anything over $2,000. 

Your credit score will tank. Chase might freak out and close your account. All to save about $100 in interest. That is only if you can in fact PIF once your 15 month's are up. Otherwise any gain will be quickly lost from your roughly 20% APR.

If you can afford to pay it off, then why not just use that money to pay down the student loan.

[Dustink]

OP is saying it will be treated as a purchase and not a transfer...

[creditfan]

I got 2 different loans, my money I focus to pay off my big loan faster

anyway, thank you for all great info

I think I will keep it intact