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To balance transfer now, or wait?

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Super Contributor

To balance transfer now, or wait?

Help me think boys and girls.

 

As the gardeners know, I'm in the midst of a balance transfer shuffle taking advantage of NFCU's 1.9% for 12 month offer.

 

I'm combining balances, avoiding interest, and trying to lower total monthly minimum required payments. 

 

I intend to garden for all of 2020, and have intended to hold DW in the garden with me.

 

All of January's BTs have been completed.  I've got five to do in February, and am debating cancelling two of them.  Both are DW's and are with Chase.  0% through August of 2020.  One percent minimum payment. 

 

If I move them to NFCU, I'll be paying 1.9% interest and making a two percent minimum payment. 

 

...more zero percent offers are already rolling in.

 

I'm struggling with this one.  Do I just leave them where they are until later Spring and/or Summer, or should I move them now to NFCU?

 

Your thoughts?


03/02/20 Fico 8: EX 687, EQ 693, TU 715.
03/05/20 Fico 9: EX 672, EQ 682, TU no idea...

Zero percent financing is where the devil lives...
Sitting in the garden behaving myself. #noinqs2020
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Super Contributor

Re: To balance transfer now, or wait?

If it was me, I would rather pay 1.99% than risk not having an offer available when needed. Plus most 0% offers have a fee attached and a 3% fee is obviously more  than 1.99% interest. 

I don't really worry about the minimum payment since I always pay more than the minimum so I can't help you there. 



01/2019:
03/2020:

Closed: CareCredit $10K, B&H Payboo $7500
Hover over my cards to see my limits!
Goal cards: Cash+, Freedom.
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Valued Contributor

Re: To balance transfer now, or wait?


@Saeren wrote:

If it was me, I would rather pay 1.99% than risk not having an offer available when needed.


+ 1

FNBO 2% Cashback Visa (20k) / Bank of the West Cashback MC (20k) / US-Bank Cash+ (15k)
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Ficos : 830 / AAoA : 9 yrs / AoOA : 24 Yrs / AoYA : 0
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Moderator

Re: To balance transfer now, or wait?

You already paid a fee for Chase BT.

Calculate exactly how much you want to pay by August and leave that while transferring rest to NFCU. 

They are known to "reward" successful BT completion, so there might even be a CLI at the end of that rainbow. 

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