Posted:
#1
My buddy just emailed me and wanted to know what he should do. He has $5,000 on a credit card and is going to transfer it to another card. he has 2 options:
1) 0.0% interest til end of Feb 2011
2) 3.99% interest til end of Sept 2011
Both charge 4% of total for transaction fee.
I told him if he planned to transfer again, then go with the 0.0%. However, if he transfered the money again in 6 months, he would have to pay another transcation fee. My ultimate advice was to go for the extra 7 months because then you dont have to pay the transcation fee again and hopefully can wipe out the balance before the end of the promotional period.
Thoughts? 
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