Transfer or not?

Supergirl83

I'm not sure what the best option is. I currently have three credit cards. Card 1 has 3k of debt and a lowish interest rate. Card 2 also has 3K of debt but a higher interest rate. Card 3 I use and pay off in full every month.

Card 2 currently has an offer for a 0% balance transfer until 1 Feb 2015. I'm wondering whether to transfer card 1 to Card 2 to take advantage of this. I won't be able to pay off Card 2 in full by Feb 2015 though I hope to have paid off half. I'm not sure if it's worth taking advantage of the 0% interest transfer for five months or whether I should keep the debts where they are.

Also, is it better generally to split the debt over more cards?

Any advice much appreciated.

Tixy

Whether it is worth it depends on the standard interest rates on each and whether there is a balance transfer fee on card 2.
And also on how much you can afford to pay off a month.

Presumably you have a sufficient limit on card 2 to make the transfer to pay off all of card 1.

No its not better generally to split debt over more cards. It is best to have the debt where you will pay the least amount of interest overall whilst paying the debt off as soon as you can.

In your positon given that card 2 is the one with the highest APR I'd be looking to see if you can balance transfer that elsewhere - either see if one of your other 2 existing cards will offer you a decent balance transfer deal, or consider applying for a new bt card from a new issuer.