College Tuition and Fees Financed on Credit Cards

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Post subject: Tuition and Fees Paid With Credit Cards

Ethan
Date: 11/27/2000 9:40 am CDT

Hi,everyone:

I am a graduate student and I pay my own tuition and fees, which are around $4,500 a semester for 3 semsters ( $13,000 totally).I plan to finance it by using my six crdeit cards.

I have a Discover with an 11.99% APR, three VISAs with 12.99% ,13.99% and 15.99% respectively,two Master cards with 19.05% and 19.88%. Only one of them has a credit limits above $5,000.

I have two options for this semster:

1) Charge one of the card with a 0% APR untill 02/2001, then transfer the banlance for an intro banlance trasfer rate of 7.99% untill 07/2001.Then try to negotiate an extension of that 7.99% rate.

2) Charge one card and tranfer the banlance to an 8.9% intro rate account unill it is paid off.

Can I save a significant amount of interest by one of the plan?

What is the best plan for me to use those credit cards to pay off my tuition and fees?

Thanks a lot!

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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SH
Date: 11/27/2000 4:37 pm CDT

I know this isn't in direct response to your question, but have you considered student loans? I just finished graduate school myself, and my student loans are locked in to a fixed interest rate of 6.93. Much better than the best deal you can get on a credit card!! Plus, you have the option of getting deferments if you run into financial difficulties in the future (something credit card companies don't allow) and they allow you 10 years to repay it on a standard plan, even longer if you are on an income-contigent plan. Check with your school's financial aid office!

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Ethan
Date: 11/27/2000 6:10 pm CDT

Thanks! For some reason, student loan in my university is not available, not for this semster at least. I have to work hard to make ends meet and keep up with study.Thank you again.

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Tim
Date: 11/30/2000 2:07 pm CDT

Don't use all of those cards with different contract agreements. Look for grants or fellowships by using any search engine.

If you have already searched and the cards are your only solution, good luck.

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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Ethan
Date: 12/4/2000 6:07 pm CDT

Thanks!I guess it is my only way to finance my education right now.

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CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!

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