No credit card required
Browse credit cards from a variety of issuers to see if there's a better card for you.
@Wiffle wrote:
CC- 15k 0% until oct 2019 $200mo
CC- 5k 0% $150mo
CC- 2k 0% $50mo
CC- 1k 0% $55mo
What are the end dates of the last three 0% promos?
@Wiffle wrote:
Those 3 are store cards and were used for 0% promos. The balances were divided up into whatever the promo was (24/36mo). Those numbers I gave are the minimum payments. Not too concerned with those 3 cards because I’ll never pay interest as long as I continue to pay the monthly minimum amount
If you're certain about that last line, then your highest interest rate is on the personal lines... (6.99% is awesome!)... but 0% is better. I'd use your 0% BTs to pay off the personal lines, then use your bonuses to pay off the BTs before interest hits.
@Wiffle wrote:
Hey guys, looking for a little advice on how you would tackle this. Trying to save money on interest, just not sure of the smartest way to go about it.
Car loan- 62k 3.19% $1048mo
Personal- 13k 6.99% $507mo
Personal- 10k 6.99% $507mo
CC- 15k 0% until oct 2019 $200mo
CC- 5k 0% $150mo
CC- 2k 0% $50mo
CC- 1k 0% $55mo
I can comfortably afford an extra $1-1.5k monthly
I get a few bonuses throughout the year, this is what I can apply from those upcoming bonuses...
10k now
5k jan
10k april
5k July
I have 2 balance transfers available to me right now that I can direct deposit into my bank...
14k 3% flat fee until March 2020
13k 3% flat fee until March 2020
I’m trying to stay mindful of the promo 0% APR end dates. Thank you in advance. Any questions, just ask
I would not do any BTs. The 3% fee is going to more than offset the 0% when you're transferring from balances with interest less than 10% and over such a short period of time. If it were me, here's what I'd do:
1. Throw 10k at the 10k personal loan now to clear it. That frees up another $507/month to pay off debt.
2. Throw the extra $2007/month at the other personal loan. With the bonus in January, it should be paid off. That frees another $507.
Based on when the 15k 0% ends, do one of two things:
3a. If it ends before 2020, start throwing an extra $500 at it monthly plus all bonuses. This should clear it out before the promo period ends. Throw the remaining extra $1514 at the car.
3b. If it's longer (unlikely), just throw the extra $500 at it and put the bonuses toward the car.
4. A few months before each of your other existing 0% periods end, divert the extra $2014 to them. Don't forget to add their payments to the extra payment toward the car when done.