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Say you currently have credit card debt on your Discover card and you want to pay it off as fast as possible. The total debt
Say you currently have credit card debt on your Discover card and you want to pay it off as fast as possible. The total debt is $1,250 and your Discover interest rate is 24%. You see that an American Express card is currently offering balance transfers up to $5,000 at 0% interest for 2 years. Assuming you would pay the entire amount off within 2 years, how much would you save in interest by transferring the balance?
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