Comments on: Yup, The Variable Rates Get Ya… http://www.bloggingawaydebt.com/2006/07/yup-the-variable-rates-get-ya/ Our Journey to a Debt-Free Life Fri, 19 Mar 2010 01:14:37 -0700 http://wordpress.org/?v=2.8.4 hourly 1 By: Tricia http://www.bloggingawaydebt.com/2006/07/yup-the-variable-rates-get-ya/comment-page-1/#comment-514 Tricia Tue, 25 Jul 2006 21:25:00 +0000 http://www.bloggingawaydebt.com/2006/07/yup-the-variable-rates-get-ya/#comment-514 Right now my highest interest loan is my Prosper loan at 9.9%. In my listing, I said I wouldn't pay it off first (to let lenders earn some interest) and I'll stick to my word. I would save some money by transfering to a 3.9% balance but not too much considering the balance transfer fee. If it was just another credit card - I probably would take that offer. Or if I had a HELOC I'd think about it too. Right now my highest interest loan is my Prosper loan at 9.9%. In my listing, I said I wouldn’t pay it off first (to let lenders earn some interest) and I’ll stick to my word. I would save some money by transfering to a 3.9% balance but not too much considering the balance transfer fee.

If it was just another credit card – I probably would take that offer. Or if I had a HELOC I’d think about it too.

]]> By: Kim L. http://www.bloggingawaydebt.com/2006/07/yup-the-variable-rates-get-ya/comment-page-1/#comment-508 Kim L. Tue, 25 Jul 2006 13:42:12 +0000 http://www.bloggingawaydebt.com/2006/07/yup-the-variable-rates-get-ya/#comment-508 It sounds like a typical credit card company. I'm sure there is a fee too (3% .. min $5 .. max $75) BUT you might want to consider it. It's been a little while since I have checked out your status, but if it's fixed for the life of the loan then it could be a really good deal for you. Even with the $75 (potential) fee, you could really save a bunch in interest if you have money that is sitting at above 10%. I am about to do that with my HELOC ... move it from 10.375% over to a fixed 4.( and when I I ran the numbers, it was going to save me almost $450 in interest. It sounds like a typical credit card company. I’m sure there is a fee too (3% .. min $5 .. max $75) BUT you might want to consider it. It’s been a little while since I have checked out your status, but if it’s fixed for the life of the loan then it could be a really good deal for you. Even with the $75 (potential) fee, you could really save a bunch in interest if you have money that is sitting at above 10%. I am about to do that with my HELOC … move it from 10.375% over to a fixed 4.( and when I I ran the numbers, it was going to save me almost $450 in interest.

]]>