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Rolling Over $20K of 0% Debt in Three Weeks - Fairly Complicated


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Completed three balance transfers today.


Sent $18,330.00 from Wells Fargo (0% 21 Months 3% Fee) to AMEX Current Balance $15,932.75 (0% Expires on 2/28/2023)

Sent $23,000.00 from Edward Jones Business Credit card (0% 12 Months 0% Fee) to Pentagon Federal Credit Union Current Balance $192.06 (No 0% offer exists)

Sent $7,090.00 from Navy Federal Credit Union Platinum Card (0.99% 12 months 0$% Fee) to to Chase Current Balance $0.00 (0% already expired in Sept 2022)


Still waiting to receive my credit card from Union Bank (0% 12 Months 0% Fee) with a limit of $15,000.  Will do a balance transfer when it arrives.


Even though I have other cards with 0% BT offers the fees are 3-4% depending on the card and I am not sure I to cost is worth generating excess liquidity when I can use my BOA card with a $48K limit to earn 1.5% cash back on purchases while only making minimum payments until May 2024.


I will post a full list of the credit cards within the next 24 hours when I have more time.

Edited by Drchaos
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  • 2 weeks later...

Here is an update on the balance transfer:


The Wells Fargo transfer to the AMEX card happened very quickly as did the ACH from AMEX to my checking account.  The cash generated was $2,207.25 as most of the amount went to the card balance.


Edward Jones decided to put a fraud alert on my account which help up the payment to Penfed until I took care of it earlier today.  $23,000 is now sent (ACH or paper I have no idea).


Chase received the funds from NFCU and I requested a refund of the credit balance on Monday.  They told me a check would arrive in 7-10 days.


I called Union Bank today as I received the acceptance letter but not the card.  They said they had some problems sending out cards and that mine is processing but not yet sent.


BOA send me balance transfer checks but I am waiting to see what happens with the other cards as there is a 3% fee on this one.  I was happier with the idea of earning cash back instead of paying fees but as the window closes my alternative to paying the fee would be removing funds from the Inherited IRA.

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