Which balance transfer rate is better? - balance transfer rates
So I have a credit line amounting to 3300 and none of it is used. I have two options for me to transfer my balance.
Option 1: 4.99% through April total balance are fixed.
Option 2: 6.99% full balance paid by April and have not set fees
Note that the transmission rate of pay for Option 1 3% of the total credit line is, and you need to make room in the credit, so you do not want to transfer about 3200 and 3300 do not share.
Anyway, I think the minimum payment each month. I believe that this offer is probably more than a year. What is the best option for me? Thank you!
Tuesday, January 5, 2010
Balance Transfer Rates Which Balance Transfer Rate Is Better?
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1 comments:
Well, that's the first question is whether your credit card has an option to transfer a cap on the fees balance, they can apply. Some set a ceiling of $ 75 others have no cap. And it depends on how you calculate the minimum payment on your credit card (which I assume that) 2 different offers on the same credit card. 3% for 3200 is $ 96, but if you have a limit of $ 75 is a difference in money saved there. But basically it is whether the accrued interest on 6.99 or less at 96 he had paid the cost of 4.99. This is possible if you pay quickly. But in your case, you pay the balance of ... Years, you pay only the minimum payment. Even so if you have the right to transfer the balance to 4.99%, which is better long term for you.
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