Hello,

Let me set the scene of my financial life right now. I am a recent graduate of college and landed a decent job. I have been making timely payments on college loans and even paid off a few. I am putting away cash into savings routinely and putting in the minimum amount into my 401k to receive matching contributions from my employer (all the things in the wiki.) The problem I have right now is credit card debt. One card currently has a balance of $9,524 (18.74% APR), another has $1,328 (21.55% APR), and finally a third has a balance of $2,721 (25.74%). The last card was recently used for an emergency, fyi.

The two smaller bills (the $1300 and 2700) seem manageable but it's the 9500 one that freaks me out. But I recently got an offer for 0% APR on balance transfers. I was thinking of either transferring one or both of the smaller credit cards to that and then making timely payments to wipe out the smaller debt so I could avalanche those payments eventually against the larger credit card payment. Or, I could also keep making the payments I've been making on the two smaller credit card bills but reduce the larger one with the promotion by about $2,000 and make sure I pay off the promotional period... Or are these promotional transfers just a gimmick?

In summary:

Option 1 - Put the two smaller cards on the promotion and pay if off in the 0% promo period. Then avalanche the savings to the larger card eventually after the promotional period ends.

Option 2 - Put $2,000 from the large credit card bill on the 0% promo, keep making payments on the smaller cards and pay off the promotional period.

Option 3 - Something else but don't use the promotion. (I might be able to refinance the credit card debt but I have already done this and still have a personal loan to show for it. I have been thinking of asking my credit union to extend my recent refi loan but am waiting for this year's bonus/raise determinations before applying.)

Any advice is appreciated. Thanks in advance.