The Motley Fool Discussion Boards

Previous Page

Personal Finances / Credit Cards and Consumer Debt

URL:  http://boards.fool.com/pay-off-business-debt-wcredit-card-26184028.aspx

Subject:  Pay off business debt w/credit card Date:  12/12/2007  9:00 AM
Author:  secondharvest Number:  265060 of 309666

In the hopes of moving credit card debit to a lower interest rate card, I applied for a Bank of America card offered through National Federation of Independent Business. 0% interest for 1 year. My plan was to transfer $10,000 from a Visa card with 11.21% interest. The remaining balance on the Visa card would be $1,800 which I would focus on paying off as quickly as possible. I also have a Blue American Express Card at 4.99% and balance of $5,499.00.

Now I’m considering another idea and wondering if this is better. I’m going out of business and owe my landlord back rent, maintenance and possibly some portion of property taxes. I owe him approximately $3,396.00. As of this date he has not charged me any interest or penalties and has been wonderful