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Registered
Join Date: Feb 2003
Location: Winston-Salem NC
Posts: 377
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Balance transfer question
Pelican Brain-trust,
I got an offer in the mail today from American Express that made me think twice--I usually throw the junk mail away. They are offering me 3.99% on any balance transfers for the life of the balance. I currently have some debt on my Visa card that is kicking my butt at over 24% interest. I would like to just pay it all off but being a full time student and working only part time that isn't going to happen for a while. I also just payed for another semester of school so there went $5k.
Does anyone have experience with transferring a balance to a lower APR credit card? I am wondering if life of the balance has any time limits--I should be able to pay this all off within the next year. Also, once I pay this off I am never going to carry another balance on a credit card again--it will be cash only for me. Thanks for any advice.
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Daniel
1988 Carrera Coupe (sold)
2012 Cayman
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