Paid Off a Credit Card!!!!

I have a lot of credit card debt. 

I was a dumbass and did some dumb things and in doing so, racked up WAY too much money on my credit cards. I had them almost paid off when I got into a car accident last year, ended up buying a lemon of a car that totally died, and then had to buy ANOTHER car and was unable to get a car loan because I mostly freelance. So the car went on a credit card. OUCH.

Anywho, I'm not all paid off (I still have the credit card loaded with the cost of my car) BUT I did pay off my other card that had a high balance. So YAY!

In doing this, the card I just paid off offered me a 0% rate for one year on balance transfers. Now the card that has my car on it has a decent rate (for a credit card- it's about 12.5%) but 0% is way better than 12.5%. I do have to pay a 5% transfer fee, but IF I can pay the card off in the next year, it would save me about $1000 in interest (keeping in account the amount I have to pay to transfer).

So, I'm definitely taking advantage of that. PLUS having the 1 year time limit (after a year the rate jacks up to 23%- INSANE) will FORCE me to do everything I can to pay that debt off.

If you're in the same boat, I definitely recommend checking any other cards you have and seeing if they offer a lower interest on balance transfers. You HAVE to take into account the transfer fee, but many time, it can save you big dough. :)