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Question By
michbob

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Transfer balance. need advice asap
Should i transfer $6000 from card with 13 APR to one with 7.99, no Apr for 1 1/2 years (this would top out my card)

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Top Contributor
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No you should work on paying off the High Credit Card Debt you have and not use any CC's until you have all your debts paid off.

Do you have a Monthly Budget?

Top Contributor
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It all depends on what your objective is. If it's important to you to save money on interest payments over the short term then yes, make the transfer. Did I understand correctly, that the lower interest card would be maxed out if you did this? If so, and if your credit score is super important to you, then this would be a bad move because your utilization on the one card would increase. FICO looks at total utilization across the board AND at utilization on individual cards.
One caveat about the transfer if you do it: I would only do it if you could pay it off reasonably quickly. The low interest rate you have is because it is an account in good standing, and you must not be doing anything to make this particular credit issuer nervous. If your utilization suddenly goes way up and stays there, they have every right to increase your interest rate and probably will since you now look like a high-risk customer living above their means.

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