Most BT's have a fee to transfer the balance (watch out for it not being capped, like BofA), a limited time period, and major whumps once the intial period ends. If you haven't paid off the loan, not only do you owe for what hasn't yet been paid, but often you will owe for the entire initial amount of the BT.
Also, if you use the card to buy something, your payments will generally be applied to the BT, not to the new purchase. So it will sit there happily chuckling away, gaining interest at 18% or whatever, for however long it takes for the original BT to be paid off.
BT's can be very useful for your personal finances, but you need to educate yourself ahead of time to know where the landmines are.
At a minimum, if you get one, put the card in your sock drawer and bury it deeply until the BT is paid off.
Also, if you use the card to buy something, your payments will generally be applied to the BT, not to the new purchase. So it will sit there happily chuckling away, gaining interest at 18% or whatever, for however long it takes for the original BT to be paid off.
BT's can be very useful for your personal finances, but you need to educate yourself ahead of time to know where the landmines are.
At a minimum, if you get one, put the card in your sock drawer and bury it deeply until the BT is paid off.