Our 0% offer for our credit card debt is expiring this month. I have been wondering about what we should do. Should I get a new card with a 0% offer? Should we transfer the balance to an existing card with a better interest rate? Should we live with the interest and just pay it?
As it turns out, the answer was right in front of me but I didn’t see it. I checked all of our cards for balance transfer offers, or so I thought. There was one that I forgot about so I looked into their offers. I couldn’t believe it when I saw the 0% balance transfer offer in front of my eyes. There was our answer. Woohoo!
I started the process of the balance transfer and hit a roadblock. I needed the card number from the company I was transferring from. I checked my usual credit card hiding spot. It wasn’t there. I checked other places I have hid them. Not there either. I hid our unused cards so well I couldn’t find them. Of course, I started wondering if I hid them in a piece of furniture that we recently sold.
Then, it hit me. I should check one more place. There they were. Whew. So I logged in last night and completed the transfer.
There is a balance transfer fee of $240. I’m not thrilled about that, but the finance charges would run close to $100/month if we kept our debt on the current card. Since it’s unlikely that we will be able to pay off our debt in a few months, the fee is worth it to have our debt at 0% until mid next year.
As for our cards, I put them back where I found them. It’s a pretty good hiding spot. But I should remember next time where they are LOL 🙂