Credit Card Balance Transfer...

It's about that time of the year again when the promotional rate on my credit card expires and I look to transfer the balance to another card. The last couple of years I have switched back and forth between Chase to Bank of America. I stopped using my other credit cards and those were closed by the issuer over the years due to non-usage. So all I really have left is American Express, Bank of America, Capital One and Chase.

Chase is offering me a 0% rate through 2/2015 with a 2% balance transfer fee...Ding! Ding! Ding! We have a winner!!!! I will make the transfer at the beginning of December. It will add $350 to the balance but the transfer fee is much less than the 4% I paid last year to move the balance to Bank of America.

Below is a chart showing my balances at the beginning of the year and my balances as of November. As you can see, I am going to have to accelerate debt payments in order to really reduce these balances over the next few years.