Loading…
4
Balance transfer payoff actually worked, I was a skeptic
My Capital One balance sat at $4,800 for 18 months at 28% APR, but after doing the math on a 0% offer with a 3% fee, I finally pulled the trigger in March and paid it down in 11 months, so why did I waste all that time avoiding the transfer? Has anyone else found the fee worth it?
1 comments
Log in to join the discussion
Log In1 Comment
aaron74028d ago
The math worked out for you because you actually paid it down fast. I read somewhere that most people don't finish before the 0% window ends, and then they get hit with the deferred interest. Eleven months is quick work, so the 3% fee was basically a rental fee for cheap money. The real trap is when someone transfers and just makes minimum payments, then they're worse off than before.
5