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Mohamad313

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I have a credit card balance transfer offer from BOA (0% interest for 1 year) +autloan of $15k
my auto loan is 10.49%. Which one is better, to transfer $8k from my credit card to my auto loan and save 1700 in two years or to keep current loan. Because transfer will cause 50% credit card utilization and destroy my credit score

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Top Contributor
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Will you be able to pay the card off within the zero interest time span? If not, then no because the card interest will be higher than 10%.  Keep in mind if you transfer balances and the card is not paid off entirely by the zero financing period; you can be charged interest on the entire balance you transferred and whatever other balance is on the card, and at different interest rates. You need to read the fine detailed print.

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