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carlygrey

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Max out a new card at 0% or live with debt at 29.99%?
I have been approved for a new credit card with a credit line that would allow me to pay off an old credit card's debt at 0%. The old debt is locked in at 29.99%.

The new card has no balance transfer fees and is interest free for 15 months. This would allow me to pay the entire thing off in less than a year. However, I don't want it to look bad on the new card to just IMMEDIATELY max it out. Which is worse? Paying too much interest or maxing out the new card?

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Although I am not advocating doing so but maxing out a credit card in itself isn't the problem with your creditors (to your scores, yes) their issue with that is when you max out a card then only paying barely minimum every months, it's a sure sign that you are in some kind of financial difficulties. As long you can pay it down in "reasonable" amount of time? There shouldn't be any issues. If you are really concern how it would perceived by creditor? Since it has no BT fees, dont transfer everything at once. Move 60% over, pay it down to say 40%~ish then move rest of it over. Other possibility, apply for another BT card...to me, paying less interest out weights credit score drop, your score will recover but you won't get the interest back.

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