No. of Recommendations: 0
Well, transferring a balance to a lower rate is always good :)

It sounds like you will be transferring the $7k @ 6.9% to a card that already has a balance @ 11.9%. You will need to talk to the credit card agency to see how they apply payments. Most cards default to applying to payment to the lowest interest balance first. So all of your payments would be going to the $7k @6.9% while the remaining balance is collecting interest at 11.9%. This is still better than all of your balance being at 11.9%.

However if you call the CC agency, they may be nice and apply your payments to the high interest part of the balance first. This would be great.
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