Help me decide between BT offers...

[all4money]

Choice 1: 6.99% until paid off, NO BT fee

Choice 2: 0% until Sept 08 for a $90 BT fee

Choice 3: 5.99% until May 08 with no BT fee

Choice 4: 3.99% until Nov 08 with a $75 BT fee

Can anyone figure which BT offer would be best for a transfer of at least $10,000? We would be able to meet any of the pay-in-full deadlines in each offer so which one would be the best to take? There may be better BT offers out there but these were the ones that our current accounts offer... we'd rather not open any more accounts.

We need to do one of them so your advice is appreciated. Thanks!

[98tegRS]

Choice #2 seems like the better deal being 0% until Sept 08. You'll pay more than $90 in interest on a balance of at least $10K with the other options if you are planning on maintaining the balance for a few months.

[anonymous_saver]

I would need to know what the interest rates of these cards will be after their timelines are done, plus, how long you will probably take to pay off the card.

[all4money]

I would need to know what the interest rates of these cards will be after their timelines are done, plus, how long you will probably take to pay off the card.

I am not considering the interest rates of any of these cards after the promotional period as I am paying the balance off prior to the end of the time period. I will pay off the card completely within the date terms of the offer - whichever offer that might end up being. Since choice 1 is fixed for the life of the BT, one could figure that time period to be let's say 6-12 months to compare it to the others? Thanks for your help.

[anonymous_saver]

In that case, option 2 is the best. As long as there is no annual fee.

[all4money]

Ok - thanks for the input guys... (no annual fee on any of them).

I was leaning on choice 2 myself and it's nice to hear that others would choose that one as well.

[loanstar]

it all depends on how much you owe and how long you think you'll be able to pay the debt off: if you owe e.g. $5k and you think you can pay it off in 6 months, then choice 3 in good, if you plan to take longer, choice 1.
If you owe huge sums, which you cannot pay off within a year then choice 2, with a view to another BT in the future.

[project15]

$10,000 * 6% = $600 per year
$600 / 12 months = $50 per month

with 6% interest on $10k, you'll probably be paying about $50 in interest per month. So...if you have the account open with a $10k balance for more than 2 months, option 2 is best.

[Tree0164]

Choice 2 as long as you can get it paid off by the end date other wise I would go with choice #1.

Remember to make sure to make your minimum payments each month as well.

[myself]

Most likely #2.

However, that depends upon your use of the $10k and how much you earn on it.
If you can fairly safely earn 15%, then I'd say #1 might be best, because you can keep the money forever, while earning 9% above your cost to keep the money.

[TheTexan]

I am assuming that you are paying on another credit card, and you stated that you will be able to pay it off by the end of the dealines... go for #2 as others have stated.