- Feb 12, 2008
Alright, so I applied for the BoA BankAmericard which has the $0 transfer fee and 0% APR for 15 months. I got instantly approved for $15k. I will order a balance transfer check and use that to transfer $15k of the HELOC to the credit card. This should save us about $1250 in interest over that time. And then when the promo on this card is close to expiring, I will look into opening the Chase Slate, which offers the same $0 transfer fee and 0% APR for 15 months. DH is also going to apply for the BoA BankAmericard too so that we can do the same thing with more of the HELOC balance. And then I have to decide if I want to use a balance transfer offer on my Capitol One card that gives 0% for 12 months with a 2% fee. It would cost us about $200 in fees, but it would save us about $663 in interest, so a net savings of $463. I will just have to make sure that I am on top of all of the payments and when the APRs expire so that I don't get any unexpected interest or penalty fees.
Congrats. I forgot the Slate is one that does offers like that too. I have a Slate with no balance on it. Hmm, wonder if I should close that one to try again some day. That said, I'm WAAAAAY over the 5/24 and not dropping anytime soon, LOL.