1. Dec 6, 2000 #1
   

   curious Well-Known Member

   Is it possible/advisable to use balance transfer deals to pay off loans when the APR percentage is lower than the interest rate paying on the loan? (assuming APR percentage does not expire after a short length of time)Is there something I'm missing here?

    

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3. Dec 6, 2000 #2
   

   GEORGE Well-Known Member

   I think you are asking if you can pay off for axample a 2.9% card with a 5.9% card...you sure can!!!
   I just paid off my 2.9% with a 7.9% rate till AUGUST 2001, the 2.9% card would have been jacked up to >14% after it expired.
   
   THE TRANSFERRING CARD DOESN'T ASK YOU OR THE RECEIVING BANK WHAT INTEREST RATE YOU ARE PAYING OFF!!!

    

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