UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next
Author: cherieswamper Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 311082  
Subject: Fools Feedback on BT.. Date: 9/1/2003 8:29 AM
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Recommendations: 0
Even though husband always says.. honey you are going to do what you want so why are you even asking me.. well.. its just in case you have a thought that I've missed. So dear fool friends here's the situation and what I am asking you. He is not awake yet.. so I haven't posed it to him, but will do a follow up.

Revolving Debts
Cap One $6800 @ 2.9% until paid YEAH BABY!!
Chase 5,500 @ 0% until Sept 30
Discover 6,100 @ 0% until Nov 1st

I have an offer on the desk from our Bank of America Account - a low variable rate for the life of the BT -currently 4% - no balance transfer fee. Credit Limit 12K. Good until September 30th. Because I know hubby would like to elimate an account/payment even though the debt amount would be the same I was THINKING of paying Discover and Chase $200 each mid Sept. (Our usual is $150 each, but pushing it I *possibly could manage the extra $100) This will bring the balances down to 5,900+5,300 =11,200. Also in Sept I will use my approximately $800 payroll (don't make much) to clear up a hospital bill.

Then beginning in October I will use my pay roll of $800 per month to pay on the Bank of America card. I'd send $400 every 2 weeks. We could then use $500 of his payroll (about one check a month) to pay the Cap One account. Using *Blakes Calculater and by the way.. I am not foolish enough to think that the BofA card will remain @ 4% but for now that is how I am figuring it, this has the Cap One card paid off in Nov of 04 and BofA in Dec of 04.

What do the fools think?
Post New | Post Reply | Reply Later | Create Poll Report this Post | Recommend it!
Print the post  
UnThreaded | Threaded | Whole Thread (2) | Ignore Thread Prev | Next


TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
What was Your Dumbest Investment?
Share it with us -- and learn from others' stories of flubs.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Community Home
Speak Your Mind, Start Your Blog, Rate Your Stocks

Community Team Fools - who are those TMF's?
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.