Tuesday, June 03, 2008

I Can't Swim, but I can Surf!

Not giving up my money that easily!

My Bank of America 0% teaser rate ended and the remaining balance now incurs a respectable 9.24%. It's not the greatest in the world, but it certainly rocks the pants off 20% or whatever some people are dealing with. This balance is currently the one on the chopping block because of the higher interest rate. (going against the DR grain) I got my first bill with the higher rate and my interest incurred was $92.!! I said to myself (and probably out loud) "Oh hell no! I don't think so!!" I found a low fee transfer for 0% until January 09 which is a month before my proposed payoff date for that card. It's through Citibank - but I've had good service and treatment from Citibank in the past so I'm comfortable with surfing the balance. $92.00 in interest charges! Are you kidding me!!??! Bahh! Not going to happen! Never again!


HS @ Our Debt Blog said...

$92? That's nothing lol I used to pay 200+ every month... ouch!!

Canadian Saver said...

I won't complain for the $2.08 in residual interest I had to pay after I paid off my last CC then ;-)

Sounds like you are on top of things with the balance transfers! Lucky you for getting the 0% ones... I haven't seen those here in Canada :-(

Kris said...

We pay waaaay too much in interest every month - I'm working on that. There was a time when our min payments were $425 on the cc's and over $300 every month was going towards interest.

We got our BT from Citicards, and they've been very helpful through the process (well, of course they's their business...). I'm using them shamelessly, but it's making me hope we can get a bunch of it paid off sooner.

Congrats on playing the BT game! lol