No credit card debt in 21 months

You can have no credit card debt in 21 months. If you have a strong FICO score, you should look into applying for a Citi Similipcity Card. This card offers 21 months of no interest payments on balance transfers or new purchases. This means that you could either pay off your credit card debt or make significant progress on paying it down in less than two years!

The card does not have an annual fee nor a late charge. However, you should always pay your bill on time to avoid the negative impact late payments have on your credit score.

The catch to the card is a balance transfer fee of either $5 or 3% of the amount of each credit card balance transfer, whichever is greater. Also, if you are unable to payoff the balance transfer within the 21 months, your going to have a variable APR of  13.24% – 23.24%, based on your creditworthiness.

Before you jump in and transfer your balance(s), ensure that you have a Money Blueprint in place and more importantly that you are sticking to it. Also, make sure you have cut down on your variable expenses, eating out, cable, phone, etc. A $5,000 balance transfer will cost you $150 (5000 x .03). Your monthly payment will be $238.10 (5000/21). You can always pay more on your balance whenever you can.

Share on facebook
Share on twitter
Share on linkedin

More Posts

Small Business

Move Your Small Business Forward with These Cashflow Basics

Image via Pexels Profit is crucial for any kind of business to maintain success. But it’s not everything. If your small business doesn’t maintain positive cashflow, it won’t be able to thrive — or even survive —  for the long-term. Put simply, cashflow is the money you have available for operating your company. It’s the

Paycheck Protection Program

The Paycheck Protection Program is back. Business can apply for loans to keep their workforce employed. Congress approved more than $280 billion in relief funds for this purpose. Remember that not all lenders will be able to process and issue funds. Smaller community based lenders who work with low income communities and minority owned businesses

Prayer for joy

A Prayer for Joy

Jesus, thank You for becoming Immanuel, “God with us.” It’s because of You that I can

Categories

Send Us A Message