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Debating balance transfer


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I have a credit card with a balance of 2000 dollars, and I called to get a lower interest rate, of course I got a NO. In the mean time I have got a couple of offers for balance transfer from Discovery and Chase Slate. Has anyone dealt with either of these two companies regarding transfers, good or bad?

 

I should mention I did have the regular Chase credir card, and they closed it because I was barely using it.

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You need to read the fine print in your agreements, and then do the math.  Some cards charge you a fee to transfer...some as high as $10 per $100.  Its almost never free...

 

A better plan might be to make minimum payments on  the low interest cards, and pay as much as you can on the high interest guy...then once its pais off...close it.

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They both have a transfer fee of 3%, which comes out to about 60 dollars. I do have other credit cards, but their balances are under 200 dollars. The big one is for some roofing work I had done. I do tend to lean towards Chase because the transfer will allow me up to April 2014. I have heard Discover is not too shabby, I just want to pay the one off with the big interest and be done with it. The big one is Cap One having never been late on a payment, I thought that they would work with me....I was wrong..

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I've done it with Discover. The balance transfer fee was just over $300 (yeah, it was a lot I transfered), but I saved myself much more than that in the interest charges on the other cards. It was a 2 year deal. Its nice seeing that $200 payment actually going toward the balance, instead of a chunk of interest being taken out. You actually see the balance going down.

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