Monday, February 09, 2004

Why Am I Not Doing that Already?

Ok. I owe the bank money on a car loan. At a good, but not great, interest rate. Today, on unrelated business, I was on the phone with my credit card provider and they tried throwing all these little offers at me until one stuck with me... 1.9% on balance transfers until August. Why don't I transfer a manageable portion of my car note over, save on the interest in two ways (lower rate on the transferred balance, lower principal subject to the higher rate), and la ti da. And then it occurs to me- I get card offers similar in one or another to this situation, all the time. Why don't I farm my debt out- small, short, manageable chunks all over the place? The goal is to pay off the debt in short order, this just makes the whole process that much easier. Hardly revolutionary, but nonetheless, Why am I not doing this already?

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