Transferred a balance...

**PB&J** · 07-09-2007, 09:56 PM

I transferred the balance on my really high interest card to a 0% until August 2008 card! The previous card was 32%!!

I completely forgot to pay it one month last year and they raised the interest up to 32%, said that was the 'default' rate. I practically begged them to lower it and they refused, but said I could call back in 6 months and check again. So I called back last week and they said NO.

I got an application in the mail today, 0% interest until next August and then the interest rate is 9.99% after that. MUCH better. So I applied and was approved. We will be saving over $60 per month in interest!

We have one card we are working on right now and will be paid off in 3 more months, then we are starting on this card. It is nice to start seeing a light at the end of the tunnel.

**chatterweb** · 07-09-2007, 11:52 PM

Now, you will keep getting more offers, if you need to use them later!!

Feels great to be in the 0% interest range!!

**FrugalMomof3** · 07-10-2007, 12:02 AM

That's great, glad to hear you took advantage of it, seems like a GREAT offer

**sdrjeolsen** · 07-10-2007, 12:11 AM

wow, 32% is insane! Good for you on the 0%, nice offer!

**PB&J** · 07-10-2007, 12:24 AM

Originally Posted by sdrjeolsen

wow, 32% is insane! Good for you on the 0%, nice offer!

I know!! I couldn't believe it when I got the bill and saw that. I thought it was a mistake. And they were so sassy when I called them last week! I told them I was planning on transferring the balance if they could not lower the interest rate. The lady tells me that they did report my late payment to the credit reporting agency so I may not be able to get a better deal.

I pointed out that would be a neat trick since the payment was only a week late and to report you must be 30+ days late. lol I guess she was trying to make me think no one else would give me credit. I'd like to call her back and say, Haha!

**baronmom** · 07-10-2007, 08:41 AM

yeah, I had that happen to me too. I forgot to make a payment and I totally thought the due date was a different date so they raised my rate to 28% I want to totally get rid of that card. I hate having a balance anyway, but right now it is not getting paid off any time soon.