Should I transfer $15k credit card debt to a 0% APR offer?

C

chipkissnyami7

New Member
Got an offer to move my credit card balances to one card, and it says no APR for 21 months. I'm currently about 15k in debt.
Should I take it? Tbh, I don't get all the credit stuff completely. I just know I'm losing a ton in interest right now.
 
Putting all $15,000 on the card requires about $715 a month to pay it off in 21 months. The issuer gives a very low minimum payment so you still owe after that period, and then interest charges begin.
 
T his is usually a solid move. Even with a 3% transfer fee, you'll probably come out ahead. Just do your best to pay way more than the minimum each month you really want to chip away at that balance before the 21 month period ends. Someone mentioned they might charge you back interest if it's not paid off in time, but honestly, I've done a few of these deals over the years and that's never happened to me. My advice? Just double check the fine print to be sure.
 
Do the transfer and make BIG payments . If it's not paid off in 21 months, just move the balance to your card with the lowest interest. Maybe think about grabbing a side hustle too, so you can really knock down what you owe.
 
I agree and I’ve done this myself wiht my own debt. I was aggressive with payments…paid off that $20k credit card within the 0% APR window. That helped me save so much no interest tacked on each month. Sure, there’s a fee upfront, but it’s nothing compared to watching your payments barely make a dent…your bill not budging because of heavy interest every single month. I believe it’s doable around $800 each month for 20 months. Just find out the transfer percentage. If you add a little extra each month, you might even beat the 21 months.
 
If you can pay it off in that time, I would.

I have 3 cards that are interest free currently.

My goal is to make large payments every month.

This way, they are paid off in time.
 
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