Money Matters
mrsnala
member
Dear Community,
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Our tech team has launched updates to The Nest today. As a result of these updates, members of the Nest Community will need to change their password in order to continue participating in the community. In addition, The Nest community member's avatars will be replaced with generic default avatars. If you wish to revert to your original avatar, you will need to re-upload it via The Nest.
If you have questions about this, please email help@theknot.com.
Thank you.
Note: This only affects The Nest's community members and will not affect members on The Bump or The Knot.
Balance Transfers
Talk to me about balance transfers. I am wondering if this would be a good move. I have a CC that has $6,500 balance on it. The limit is $13,900 so I have ~$7,000 available for a balance transfer: 0% APR until 8/2015. I am wondering if I should do it and pay off the old balance that has interest. We are working to pay off this card by the end of the year, so I would make the 0% promo apr cut off. Any advice?
Re: Balance Transfers
Before I made the call, I did the math and figured out if I'd save money even with the transfer fee. I also read the fine print very carefully. In my case, no back interest was charged if I didn't finish paying during the promotional period, but it would have been charged if any payments were even a day late. I'm very good with paying bills on time, so I took the risk.
In my case, it helped me pay off the card more quickly and saved me money. I was already committed at that point to no new charges-I think that's really important, too. I didn't charge a single thing for two years before using cards responsibly for points again. If you think you'll pay this down and then run it up again, it's not worth it.
Good luck with your decision!
I did this once with one of my student loans- the rate was so high that I saved a ton. The trick is though make sure you can pay it off during that time because otherwise your new CC may have a high 20% interest rate or something. If you have a game plan to pay off the current balance by the end of this year, how long would you have to stretch that out if you added to the balance- and would you still be able to pay it off before the 0% was gone?