Posted on June 10, 2010 at 5:10 am Hi, I currently have a credit card with a balance of around 8000, credit limit of 16000, current APR of 14%. I have a balance transfer option via CITI that allows me to take advantage of 0% interest on this card thru March of next year. With the Balance transfer option, CITI allows me to take a "Extra Cash" option. I have called them and asked them and they said this extra cash would be just like a balance transfer, the same rules apply. Would it make sense for me to take extra cash and pay this same card using that money. CITI told me when a card has two different APRs on there to decide which card they apply the money to is like this: They take your minimum balance and apply that first to the lower APR and then the higher APR, anything you pay over your minimum balance goes first to your higher APR balance and the reminder goes to the lower APR. If I am understanding this correctly, doing this would save me lots of interest charges. Anyone have any experience doing this?

Posted on June 13, 2010 at 10:48 am I'm a little confused. What is the credit limit on the Citi card? Is it enough to transfer the entire $8,000 balance? I'm not clear on where this "extra cash" option comes into play.

Posted on June 17, 2010 at 8:53 am Hello, you might want to read on the Credit Card Accountability Responsibility and Disclosure Act of 2009http://www.whitehouse.gov/the_press_office/Fact-Sheet-Reforms-to-Protect-American-Credit-Card-Holders/