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 
Technorati Tags: credit+card, credit
Leave a Reply
About This Site
My Debt
- Original Debt: $38,495.86
- Paid: $19,149.13
- Remaining: $19,346.73
- Broken Down
- Auto Loan 1: $0
- Credit Card: $0 Woo Hoo!
- Student Loan: $9,501.52
- Auto Loan 2: $9,845.21
Categories
- :)
- About Me
- Blogging Buddies
- Book Reviews
- Carnivals/Festivals
- Confessions
- Credit Cards
- Credit Reports/FICO
- Debt Updates
- food
- Food Review
- Free Stuff
- General Debt
- General Personal Finance
- Good Info
- health
- Home Ownership
- Insurance
- job loss
- Keeping Motivated
- Kids & Money
- Life After Credit Card Debt
- Life Experiences
- Living Frugal
- Loans
- Making Home Affordable Program
- Making Money
- Misc
- Money & Relationships
- Monthly Spending
- Net Worth
- Parties
- Picks and Pans
- Prosper Borrowing
- Quicken Tips
- Reducing Debt
- Saving Money
- Spending Money
- taxes
- unemployment
- Ways I Save Money
- work
Finance Blogging Buddies
- 2Million
- Alpha Consumer
- Another Day of Life
- Beachgirl’s Budget Blog
- Becoming and Staying Debt Free
- Blueprint for Financial Prosperity
- Boston Gal’s Open Wallet
- Cents and Sensibility
- Consumerism Commentary
- Dash to Debt Freedom
- Debt Free Hispanic
- Debt Kid
- Debt Reduction 101
- Debtspiration
- Dedicated 2 Financial Freedom
- Drowning in $166,356.75 in Debt
- Dual Income No Kids
- Everybody Loves Your Money
- Financial Hack
- Free Money Finance
- From the Brink of Bankruptcy
- Generation X Finance
- GRACEful Retirement
- Grad Money Matters
- It’s Your Money
- Josephsangl.com
- Kick Debt’s Butt
- Lazy Man and Money
- Low Income Life
- Make Love Not Debt
- Mapgirl’s Fiscal Challenge
- Mighty Bargain Hunter
- Million Dollar Savings Club
- Money for Military
- Money is My BFF
- Money, Matter and More Musings
- My 1st Million at 33
- My Money Blog
- My Plasectomy
- My Two Dollars
- NCN Network
- NCN Podcast
- No Credit Needed
- One Million and Beyond
- Personal Finance Advice
- pfblogs.org
- Plugged in Finance
- Recovering Spender
- Saving for College
- Single Guy Money
- The Financial Ladder
- The Frugalista Files
- The Lucky Money Cat
- The Penny Saved
- The Piggy Banker
- Toxic Money
- Windy City Blues
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.