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    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
    Ultra Member
     
    #1

    Jun 17, 2014, 03:01 PM
    Credit Card Offer
    Mrs. Rodriguez got an offer from CITI bank to transfer
    Her credit card balances over to a CITI bank card. No interest for 18 month. Then it would be 12% APR.

    Currently she holds Bank of America 7.24% Discover 17.2%
    And Chase bank at 9.99% all combine credit cards is $9,000
    Do you think this is a good offer for Mrs. Rodriguez?
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
    Jobs & Parenting Expert
     
    #2

    Jun 17, 2014, 03:08 PM
    Can she pay it off in 18 months at 0% interest?
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #3

    Jun 17, 2014, 03:13 PM
    She can set aside $800.00 a month
    Wondergirl's Avatar
    Wondergirl Posts: 39,354, Reputation: 5431
    Jobs & Parenting Expert
     
    #4

    Jun 17, 2014, 04:49 PM
    Then she should consolidate her debts onto one card and pay it off during those 18 months of no interest. And not charge anything meanwhile. Pay cash only for "stuff."
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #5

    Jun 17, 2014, 05:27 PM
    great. Thank you so much
    ma0641's Avatar
    ma0641 Posts: 15,675, Reputation: 1012
    Uber Member
     
    #6

    Jun 17, 2014, 05:29 PM
    Yep, go to CITI and pay the $800/mo. Consumer debt is not deductible on taxes so any way to get it off is better.

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