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Unsecured LOC

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Established Member

Unsecured LOC

So I have a unsecured LOC for $2500 with 15.99 interest.

 

Currently have my WF card at $1900 with 25% interest.

Am I wrong or would it make sense to transfer the $1900 from my LOC to my bank acount and pay off my WF card?

Amazon: 2000
Amex: 1,000
Amex: 2,000
Best Buy: 3,500
BOA: 5100
Care Credit: 12000
CCU: 5,000
Citi: 4,200
Disc: 3,500
Nordstrom: 500
Paypal: 2000
Suntrust: 2,800
WF: 5,000
Message 1 of 4
3 REPLIES 3
Contributor

Re: Unsecured LOC

From an interest point of view it would make sense to me . But lets wait till someone with more knowledge them me to chime in and confirm .







Message 2 of 4
Established Member

Re: Unsecured LOC

I planned on paying it off in 3 months. so not sure if its really worth the savings

Amazon: 2000
Amex: 1,000
Amex: 2,000
Best Buy: 3,500
BOA: 5100
Care Credit: 12000
CCU: 5,000
Citi: 4,200
Disc: 3,500
Nordstrom: 500
Paypal: 2000
Suntrust: 2,800
WF: 5,000
Message 3 of 4
Contributor

Re: Unsecured LOC

If my calculations are right ...and a BIG if lol , in 3 months time frame your looking at a $30- $40 savings making this move .







Message 4 of 4