Is it better to pay 18% on a credit card that uses average daily balance or 8.99% using two cycle billing?

Question

Trying to decide if I should transfer balance from one card to another. Much lower interest, but the two cycle billing on the new card bothers me. Does it make much difference? 0% on Transfers, first 12 months, no fees.

Answer 1

OK, if all your doing is transferring the debt, then its good. that billing cycle is on new purchases. if your goal is to pay off the debt, transfer it and do not make any purchases on that card. if you do, then all of that money you pay each month pays off that new purchase, and your not going to get any wear. transfer the debt, pay it off, and when you do, new purchases will be payed off in full each month, o.k? and during that intro period, you want to put every dime you can into the monthly payment, before the interest clock starts ticking.

Answer 2

When you transfer be sure to have another 0% tranfer fee in mind to switch all of this to in December, if you have not paid it all off by then.

If you are sure that there are no fees to transfer (mine had $50.00 to do so but still zero interest) THen be sure to have the new card pay $200.00 or so more to your old card. This will give you a overage on the new card and the extra will be on the the interest free card so that you have that $200 free loan on the old card.
That way if there is an emergncy you can withdrawl that amount ONE time to pay your new card and keep from defaulting on that one.

Answer 3

The lower rate is good.

You will pay for you current charges & you will pay on the transfer.

You have to read the fine print, so that what you pay is credited to each part of the credit balance.

One very important point is to be sure that you are never late with
a payment. Because if you are late they can raise your rates.

They even can raise them if you are late with another credit card.

So again read the fine print.

Answer 4

If i'm information your question properly, happening 2 cycles of usually happening on a regular basis stability is two decrease off dates for while your statements are mailed. as an occasion: You cost $40 5 on your card for groceries, and then $22 for gas. Say 5 days later you acquire your assertion and you purely see the $40 5 on the assertion. this suggests you charged $22 in gas AFTER the decrease off date. The decrease off date is the date your billing cycle ends, and then day after right this moment the hot one starts off. Your decrease off date is say the thirteenth of November, your bill is due the 14th of December. Any costs after the thirteenth of November would be due next billing cycle (14th of January). 2 cycles usually happening on a regular basis stability is two months nicely worth of your usually happening on a regular basis stability. in case you cost $80 for eating out, and then $30 for a carton of cigs (if a smoker), your usually happening on a regular basis stability is those 2 added at the same time. To get greater help in this usually happening on a regular basis stability, call your mastercard corporation and ask them what they recommend via "2 cycles usually happening on a regular basis stability." besides the undeniable fact that it is going to point what I basically informed you, if it would not recommend what I basically stated, I say sorry for any confusion. yet your maximum suitable guess would be to call your mastercard corporation. And confident! detect is an brilliant corporation!