<prompt> Human: Ive taken all my credit cards and move all the high interest debt to one 0 for 15 months Discover card. My goal now is to pay it off by July 2015 so that I am CC debt free once and for all. After the transfer fee, the total amount comes to about 8400. My goal is to pay the minimum every month and when July comes, pay the remaining balance which will be around 6300. I have my bank account set up so that it takes the right amount out every month and puts it into a separate account so that the money will be there once the time comes.Is this an effective strategy or is there a more efficient way of paying the card off?  <response>: Why are you putting the money into separate account instead of paying it off immediately? To earn interest on that money? Given where interest rates are at present, Id be surprised if you end up making more than 50 in interest. Since your big goal is to be free of credit card debt, maybe it would be better to just pay it off now rather than take the chance that youll get tempted to use that money on something else. 