I am cleaning up the desk area and found a credit card offer that G-man saved in his "need to talk to Mysti" pile.
It is for a Visa card with a 0% interest for 12 billing cycles and 3% transfer fee. It is 12.99% interest after one year.
I have been looking for a way to pay less interest, and this certainly would be a way. If we took the same amount that I have been paying on CC1 that has the ridiculous 19.24% interest ($400 a month) and transferred that to this card, that would be $5000 plus the fee of $150, for a total of $5150. Paying the same exact amount of money we have been.....in one year we would have that card paid off, and it would all be principal. That would lower CC1 balance to about $11,000, with a minimal payment of $285, which would continue to go down over time.
Alternatively, we could transfer the money, and make minimal payments on it, and hit the other higher interest cards heavy.
Between the cards, the minimal payments would be:
CC1 - $285
CC2 - $200
CC3 - $140
New card - $400
Which is $1025 total. That is about $150 more than we are doing now, but in 1 year, we would have $5000 paid off, plus whatever else went toward the other cards.