I have almost $20,000 in credit card debt and, though I have stopped accumulating it for quite a while now, I'm trying to figure out the best way forward. Can someone please offer advice based on this scenario?
I have three cards:
- Card #1: $5600 balance, APR 7.24%
- Card #2: $3710 balance, APR 19.24%
- Card #3: $10,500 balance, 0% APR - was a balance transfer. In November, it will be 18.99%
Should I transfer the balances back to Card #1? (Can I even do that with the balance on Card #3, which I transferred last year?) Should I be looking at some other option like a bank loan to consolidate the debt?
Thank you VERY much in advance.