Simplicity
12-3-12, 8:37pm
Hi all. I visit this forum daily and have learned so much here! I rarely post, and I never start threads, but I just had to share this little interest saving technique.
A little while back, Fidgiegirl mentioned the Mr. Money Mustache blog and forum. Well! I've been over there reading diligently ever since! Great forum! It also lead me to earlyretirementextreme.com and redflagdeals. OMG my head is swimming! I'm off to study investing next!
Anyway, somewhere over there on my travels, I stumbled upon a link to this thread at Redflagdeals: http://forums.redflagdeals.com/mbna-0-10-months-thread-813854/. I applied last week and today I transferred $11700 of my LOC that my house is on. This will save me $522 over the next 10 months.
Basically, this is a credit card with 0% interest for the first 10 months. There is a 1% transfer fee, so that cost me $120. But I'm saving $642 in interest on that portion of my LOC, so a net savings of $522.
For those with any debts with medium to high interest rates, it may be worthwhile for you too.
A little while back, Fidgiegirl mentioned the Mr. Money Mustache blog and forum. Well! I've been over there reading diligently ever since! Great forum! It also lead me to earlyretirementextreme.com and redflagdeals. OMG my head is swimming! I'm off to study investing next!
Anyway, somewhere over there on my travels, I stumbled upon a link to this thread at Redflagdeals: http://forums.redflagdeals.com/mbna-0-10-months-thread-813854/. I applied last week and today I transferred $11700 of my LOC that my house is on. This will save me $522 over the next 10 months.
Basically, this is a credit card with 0% interest for the first 10 months. There is a 1% transfer fee, so that cost me $120. But I'm saving $642 in interest on that portion of my LOC, so a net savings of $522.
For those with any debts with medium to high interest rates, it may be worthwhile for you too.