Consolidating Debt?

I have approx. 10K in credit card debt, I received a letter from a credit card company offering 11K with those Credit Card Checks, the APR is 4.5 % till the balance is paid off. I already have 1800 on that credit card offering the checks. The two loans are a 5000 personal loan from a credit union at 14.25 Interest and a credit card from the same credit union with 3K balance with 11.9 interest. So would it be wise to use the checks to pay off the two credit union loans? The 4.5% interest rate till the balance is paid off looks tempting but not sure what the catch is. I can pay 600 a month payments, so trying to get the loan paid off as quickly as possible. Thanks any help will be appreciated.

Consolidating Debt?title loans

Biggest thing is look over the complete fine print very well. And also call them and ask questions. There are alot of %26quot;predatory%26quot; offers out there that lure you in and trick you, or do the bait and switch. But there are legitimate options out there too. Without seeing all the terms of your offer in question, its tough to say if it is a good one or not. If there are no catches, it sounds like a good option.

Consolidating Debt? loan

yet it is a good choice just keep in mind the 3% transfer fee and read the fine print. You should be good to go though|||Read the fine print. Sometimes there are balance transfer fees. I did something similar. I got a discover card with no transfer fees and 0% interest for one year. It has allowed me to pay of my debt much faster.|||The 4.5% interest rate is usually only an introductory rate, meaning that it will go up after a set amount of time, (usually about 6 months). What is the rate after that? Is it still beneficial to use it? Also, the checks will not usually allow a grace period for late payments. If you payment shows up late, (even if you sent it on time) they would probably have the right to jack up your interest rates, and leave them there.

You know the old saying, if it sounds to good to be true, it probably is. Have you talked to your credit union about a consolidation loan?