I have a Wells Fargo Home Projects Visa that opened in August of last year to finance a new air conditioning unit. The financing terms are 9.9% with a fixed monthly minmum of $133. The original balance was $8200 and I have paid it down to $6k. Paying off around $300 a month.
i have a couple of 0% transfer offers from B of A and Dicover with 4% fee. The 0% is good until December of 2015, so it gives me around 18 months no interest.
My Discover limit is $4k and my B of A is 5K. I was thinking of transferring 2k to Discover and 4k to B of A.
Based on paying it down to 0 over the 18 month I need to pay $333 a month which is what I'm paying now anyways.
Even with the transfer fees that would save me around $650 in interest. Now my only concern is will B of A not like me carrying that balance of 70 to 80 Util for that 18 months as well as Discover. Since they will be carrying these balances they won't really get any use during that period.
im also wondering how carrying those balances on those cards might affect future CLI requests.
Dicover raised my limit from $1500 to $4k about 3 months ago. Do you think they might increase me again to say $6k if I tell them I want to transfer $3k from Wells but don't want to have such high Util in the card?
