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Question By
zeppelin011

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I have a 3500 debt. Should I apply for a new credit with 0% apr or apply for a personal loan?

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You do the math.

If you get a personal loan, you will be paying interest on that loan from the very beginning.  If you are able to do a balance transfer and the 0% is for a year or more, and you get this entire debt paid off in the 0% time frame, how much interest are you going to have to pay?

The ideal thing to do is to not have to carry a balance on your credit cards, paying the amount shown on the statement in full every month.

Also, if you get the balance transfer, do not close the previous card(s). The more available credit you have, the better for your credit score.

Top Contributor
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Jwsister is right, let me add one thing - they always charge a fee to transfer the balance (it's a percentage based on the dollar amount you are requesting) so be sure to factor that into your calculations.  They tell you up front what the balance transfer fee is.  Best of luck!

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