After I wrote my post on The Value of Interest, I received a comment from paidtwice. She had discovered a credit card with 0% interest for 12 months and no transfer fee. It's the AT&T Universal card and I was thrilled to learn about it! So I decided to apply for it myself and see if I could cut my interest paid.
I applied online and was instantly approved, with a credit limit of $5300!! Yessa! As soon as I get the card, I am going to switch $5100 of our second-highest interest debt to the 0% card. Why $5100? Because I'm leaving myself a buffer in the off chance that there is a fee somewhere so I don't go over the limit. (And I would raise holy heck if that were the case, but still.) Why the second highest interest rate? Because the highest one will be gone in October! I was hoping for September, but some unexpected expenses arose and it had to be pushed back.
I can't wait until I can crunch the numbers tonight and see how much interest this is going to save me!