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Balance transfer or pay off your cc debt?

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  • MillennialinDebt

    Depends on the debt amount, for amounts in the 1k-2k range it might make more sense to just pay off the balance outright. For balances above $10-$15k it may make more sense to look into balance transfers since (dependent on your income) it may take more time to pay off which in turn makes you pay more interest. But once you do, make sure you're aggressively paying off that debt for 12 months. I believe it's APR free from 1 year, but there is a % cost to do the balance transfer that also needs to be accounted for. See the balance transfer cost vs interest it will cost you to hold for that amount of time 

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