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I was approved for the Chase Slate CC and did a balance transfer. 15 month promo period with 0% interest, no transfer fee if done within 60 days of approval, and no annual fees. The entire process from approval to transfer took less than 2 weeks. The card is only intended for balance transfers to stop the bleeding from interest payments. It doesn’t have any perks.I owe about $1300 in CC debt. I'm currently paying $350 a month to knock down the balance but my interest rate is 22%. Any hopes I could decrease the rate? I want to keep the account open and keep a slight balance on it each month but not sure it benefits me to have such a high rate. Would a balance transfer be an option, and if so does anyone have any positive experiences going that route?
Generally if you can’t pay it back within 60 days you’d have to report the loan as income when you file your taxes. It would become an early withdrawal vs a loan at that point so be prepared for taxes, early withdrawal fees, etc. You could take a loan or do a balance transfer that offers 0% interest for a promo period to settle the outstanding balance, then payoff the new personal loan/card before interest starts kicking in.I'm considering doing the same, the one thing I need to find out is if my employer is one of those places where the entire balance of the loan is due of you end up leaving for whatever reason.