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If you read the post before this one, I wasn’t sure what credit card to pay using my overpayment refund, but a master plan was brewing in my mind (muwahaha).
I was ready and raring to go and to pay off Credit Card #4 and wait for a nice balance transfer option to then use towards Credit Card #2. But then I looked in my mailbox today and received a balance transfer offer from Credit Card #4:
4.9% until September 2006 - and has a balance transfer fee of $50.
Only 4 months at the lower rate PLUS a balance trasfer fee. Given the short timeframe of the interest rate and the fee - it probably isn’t worth it to send my refunds to that card. Perhaps I should just pay it all towards Credit Card #2??
If anyone has a few words of wisdom to share, that’d be great 
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Posted: April 13th, 2006 at 3:23 pm
Tough call. You may be able to call card company #4 and get them to waive the fee. Also, you could use the snowball method. With your refund and overpayment, pay off #4 and apply the freed up cash flow towards agressively paying off #2. Good luck!!!
Posted: April 13th, 2006 at 3:26 pm
Hi. Not sure if you know this already but check out daveramsey.com
He can help.
Posted: April 14th, 2006 at 6:29 pm
i would pay off credit card #4 if i were you. that is one less payment you have to make and you’ll have a greater feeling of satisfaction. once it is paid off you can call the credit card company and see if they can make you a better deal than what they sent you in the mail. from my experience, they should be pretty cooperative.
Posted: April 14th, 2006 at 6:58 pm
Thank you all for your comments. Right now I am leaning towards paying off #4, and your comments are helping me feel better about going that route. But the decisions, the decisions! It’s enough to drive ya crazy!
I’ll of course let everyone know what I decide to do.