so my credit card sent me these checks... the checks come with a 3% transaction fee and 5.99% apr financing...

the normal apr rate is higher than that....

so i was thinking... i would write a check out to my friend... for how much i owe on my cc.. and then pay it back while having 5.99% financing... while paying the 3% transaction fee...

think that would work?

and i only owe on one card... and i have quite a few to use... so that way i dont have to use my main one... and it said that before paying off the high transaction apr's... you end up paying for the low special rates first... so that would mean.... if i wrote the check in the full amount.... it would all convert to 5.99 apr... right?

 

Chris, be sure to read all the fine print. Make sure that the purchases for that rate don't have to be a balance transfer, or that the rate is only for a few months.

 

i've used a few of those checks to pay off store credit cards w/higher rates... then ended up paying slightly less a month than the total of the store card + reg CC.... due to less APR

so it can work... but like Dugzilla said... read the fine print.. and the quicker you pay either off.. the cheaper it'll be

and dont use the CC you paid off again.. or else it defeats the purpose..lol