I have about $14,000 in high interest credit card debt. I am curious as to the best options to attack this issue.
CC1 - $9,500 @ 19%
CC2 - $4,100 @ 21%
I have about $8k in savings I am not willing to touch in case of emergencies. I have about $14k in a 403b from a previous job and $4400 in my 401k at my current job.
I have a credit score in the low 730s. I am considering the option of applying for a credit card with a 5% fee on balance transfers but 0% interest for 21 months. The other option is to get a loan from my bank. I would have no problem making the monthly payment on the no interest card since it is barely more than the two payments from the cards mentioned above combined. The only problem I see here is I may not get approved for enough credit to cover my two problematic accounts.
I have full benefits including health insurance and 401k matching at my current job which I take advantage of. I hope to buy a house in the next year or two, but no other big expenses are planned. Not sure if any of that is relevant.
I am leaning towards the no interest card, but are there other variables I am not seeing? Any advice on the best course of action here would be much appreciated.
edit: I am a homeowner. My disposable income after all the essentials are paid is about $2000.