I see two options for you. Option 1: Take the upgrade and transfer the Discover Card balance to Mastercard right away because your interest charges with Mastercard will always be less than the 21 % you are currently paying on Discover Card balances. Do not transfer your Visa balance over unless you plan to pay down most of that $6200 debt by the end of July 2000. At that time your Mastercard unpaid balances will cost you 11.9% versus the 8.9% you presently pay to Visa. Option 2: You appear to be someone who carries an unpaid balance on one or more cards most of the time. Therefore, you want the card that charges the least interest over the long term. In your example, that card is Visa. I recommend that you ignore the Mastercard offer and transfer your Discover Card balance to your Visa card because, over the long term, you will pay 3% less interest on your revolving loan than with Mastercard.
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