Interest Reduction
| Listing Information | |||
|---|---|---|---|
| Amount: | $7,455.00 | Status: | Loan created |
| Grade: | B | DTI: | 24% |
| Lender Rate: | 13% | Borrower: | Gyger12 |
| Finished | State: | CO | |
| Funded: | 100% | Group: | (No Group) |
| Loan Information | |||||
|---|---|---|---|---|---|
| Loan Status: | Current | Origination Date: | 2008-10-07 | EricsCC ROI: | 12% |
| Status History | |
|---|---|
| Oct 07, 2008 | Current |
|
Interest Reduction I have a Chase Visa Credit Card with a balance of $7,455 - credit line of $7,500 and an APR of 14.99%. In my latest statement - Chase sent me a check offering me 3.99% interest on any unused balance until balance is paid in full. WOW – That leave me with the ability to right a check for $45 bucks. Then I got to thinking. If I can get a Prosper loan to pay off the Credit Card, then my balance will be at zero. Then I use the 3.99% check from Chase to pay back the Prosper loan. This would reduce my interest rate from 14.99% to 3.99%. Thank you in advance Prosper community for you help. |
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