> The other cards have very low limits ~ $1000 each and do carry some > balance. We are trying to get the lowest rates paid so we can transfer > some of the high interest balance to the lower rate card.You're doing that backwards: make min payments on the low interest loan so you can pay more on the high interest one. See if the lowerrate card companies will raise their limits so you can get moreoff the high rate card.If you've got another $1000 in availible credit at 10%,applying it to 24% debt will save $140 a year in reducedinterest.Check on the applicable state usury limit. per http://www.lectlaw.com/files/ban02.htmthe max in R.I. (from your profile) is 21%(24% would be illegal). A bank operating inCt seems to be limited to 12% per that same page.
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