Would it be smart to transfer balances?

[jlg1970]

Hi everyone. I just got approved for Capital One Quicksilver for $10,000 with a 0% balance transfer for 9 months. I was considering transferring $2849 to the card but was wondering if I would be better off leaving my balances as is or transferring them.

The only cards I have balances on are:
Amex Everyday: $915/6000 (15.25% util)
Discover IT: $1672/9000 (18.57% util)
Citi DC: $262/2500 (10.48% util)

My total credit line for all my cards is $41,000 and I’m utilizing only 6.9% overall.

Any advice is appreciated! Thanks in advance!

[Anonymous]

If you're paying interest on those balances, rather than just statement balances you plan to PIF before due day, why not?

[Anonymous]

Can you pay the entire balance within 9 months?  If, so, yes. 

[marty56]

That would be about $315 a month for 9 months plus the BT fee.  In that short of a time period how much interest would you actually save?  Most of the time moving debt around doesn't end well and I don't trust any CCC with BTs/checks.  To be extra safe you would need to PIF by 8 months anyway.  IMHO I would just say no and use the debt snowball or similar program to clean up the debt.