So I’m kicking butt on my debt snowball, but you know interest rates drive me crazy, as evidenced by my American Express snafu and my constantly moving around my car loan. So, my recent Balance Transfer is no different.

I’ve Balance Transferred $10,750 of debt to an Advanta Small Business card – 0% for 15 months. And the other beauty of this is that it doesn’t show up on my credit report.

So what I did is transfer all of my USAA Credit Card Debt (my highest APR @ 8.9%) totaling $7577.60 – bringing that account to zero.
Then, I transferred $3172.40 of my car loan – my next highest debt, bringing that account to approx $8600.

What I’m doing is moving my Snowball to my Car Payment – and moving the BT money to the back of the line. (I am scheduled to be debt free by 15 months anyway). Still, while this feels good, I want to make clear in my mind that I have not PAID it off, I have merely transferred it to a more agressive timeline.

So, I’ve decided to keep my debt progress bars as is. Citi stayed the same, so that one’s easy to update, and the USAA basically got put on hold. Any monthly payments I make to my car, or to my Advanta will be counted as car payments until the total car balance paid is 100%. Then, the payments I make to Advanta will count toward my Amex debt again.

Make sense guys? I know that’s more accounting to update my progress bars, but I want to be fair, both to you and myself that I did not PAY this debt, I simply transferred it. Thinking I had PAID it was probably a major factor in how I got myself into this mess in the first place.

Thanks for listening, and I will be updating the Progress Bars tonight (especially since my rent check will be instantly applied to my car payment tonight.)

(Short) live the debt snowball!