Posts tagged Interest

Balance Transfer

Yesterday I received some balance transfer checks in the mail from Citibank. Normally, I would rip them up & then shred them. However, last night I decided to open the envelope & see what they were offering. Citibank is offering me No-Interest on any balance transfer until March 1, 2009. I’ve decided to take them up on their offer. Right now I’m paying 10.99% on both my Bank of America card & my  Discover card. I will deposit one of the checks, in the total amount that I owe on my other cards, into my bank account & then use the money to pay them off. My goal is to have my credit cards paid off by January 2009 anyway. So now I’ll be paying them off faster because I won’t be paying any interest. I think it’s a great idea if I do say so myself! Also, it will give me until March to get the card paid off if I don’t get it accomplished by January. However I have every intention of getting it paid off by then.

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