No. of Recommendations: 0
...The card with the 19% interst has sent me one of their offers to transfer my higher balance to
them at 7.9% (ha, until 3/1/00). Question, I'm not sure if the rate is good only until 3/1/00 and then it goes up which I don't think is the case as it does say
fixed apr.


"Fixed" in this case means that it is set at 4.9% through the length of the promotion, which is in March. (And I think a 2-3 month promotion is hardly worth looking at, unless you plan on paying off the entire transferred amount by that time.) The other option is "variable," in which your interest rate is some standard, such as the rate of a 30-day treasury bill plus some percentage.

Warning: If you have $2500 on that account at 19% and then transfer some amount at 4.9%, all of your payments are going toward the 4.9% debt first, while you accrue that 19% on yout $2500. This is why they offer these deals.

Don't even think of investing until you've eliminated that 14% and 19% debt. Yuck! Certainly knock off that $2500 with your $3000. Do you have some savings? I suggest carrying at least $1000 emergency fund. If you pay off that one card at least, you'll feel like you've accomplished something. Also, onmce you've paid off that card, you're free to take advantage of their transfer, although I'd only transfer what you can pay off before the offer ends, and your savings may not be worth the trouble and risk.

John
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