Saving money to pay off student loans and consumer debt

Wamu Sent Me Blank Checks

Spending spree, right? The checks are attached to my credit card #2 that currently carries a balance of $1909 and some change. The current balance is at 0% from a balance transfer husband made from his AMEX card. At the end of the year the APR goes up to 19% so we have to pay it off before then. The checks promise an APR of 1.9% until November followed by a rate of 16.99% plus prime rate (so around 22.99%). If we balance transferred more from the AMEX card, we might save a little on interest but I am not sure it is worth it. -Wamu also tacks on a balance transfer fee of 3%. Yup, I read the small print.

Tomorrow I will crunch the numbers to see if it makes sense to transfer to the Wamu credit card. Currently I lean towards not.


March 11, 2008 Posted by | Credit Cards, Debt | , , | 1 Comment