Balance Transfer oops.......... help!

sr_guy

I feel so ridiculous. I didn't read the fine print of a balance transfer promo closely enough, and now I'm kicking myself!

It is through WAMU. I misread the fine print and thought the balance transfer option was for 0% for 15 months, but instead it is 0% interest on purchases for 15 months, and 8.99% on balance transfers. Grrrrr!!!! It's less then 30 days since it was opened, so I'm wondering one of two options:

1. Should I just transfer that balance elsewhere that has 15 month 0% interest on balance transfers? If so, will this hit my FICO?

or

2. Pay for 3-6 months and then transfer the remaining balance to a 15 month 0% interest on balance transfer offer?

Total amount of transer $4442. Which will be less damaging to my credit history?

U've_been_framed

I don't know if it will affect your credit history, but I would transfer the balance elsewhere immediately. The whole point is to avoid paying interest.

Ask yourself: are there other factors which could affect your credit history? If not, I wouldn't worry too much about it.

Who are WAMU? I'd love to get 15 months interest free on purchases.

brainfreeze

U've_been_framed wrote: »

Who are WAMU? I'd love to get 15 months interest free on purchases.

It's an American bank (Washington Mutual I think it stands for). That's why the first poster mentions FICO (from what I gather that's one of the credit reference agencies over there) and finally he mentions the transfer amount in $

HTH

brainfreeze

Hi sr-guy

to be honest you would be better off posting you question on this section of the forum. This is where they discuss pros and cons of moving money around 0% cards.