Take advantage of 0 APR?

[b1gr3dmachin3]

---

@Pilotdude wrote:

I personally take advantage of 0% interest on cards like a hooker at a bachelor party.  I BT any higher interest balance right over.

The trick is though, make darn sure you pay way more then the standard min payment and pay it off well before the interest could be imposed. 

Then, like the hooker when your done with the 0% intro rate you can either keep the card or toss away and get something newer and prettier again.

P.S.  If my wife ever reads this, I am a be in sooooooooo much trouble. lol

P.P.S.  Dont be trying this if you have only two cards though.  Any hiccup in your plan could cost you a LOT in the long run.

---

Yeah, I would definitely pay before the interest kicks in. How did that affect your score?

[Pilotdude]

BTing to 0% interest cards never really negatively impacted my scores...but I paid them off right away ordinarily.

I seldom carry a serious balance.  Maybe a few hundred on one card or the other, but never more than just one card or two at a time. 

When I was working with lower limits and less cards I sometimes would transfer over a store card and then try to dump on it over the next month.   Now though I have no real store cards anymore since I paid them off and closed them all. 

Carrying balances will drive your score down of course but its the util that takes the real hit.  The BT to 0% game is simply a means to avoid paying more then one has to pay by reducing the interest being charged.  Unless you are transfering a big balance, most often the gain is nominal.  Its a good way to adjust your util as well and to prevent any one card from being maxed if you do it right.   None of my cards ever get anywhere near maxed now though.  Thats a big no no.

[youngandcreditwrthy]

I have a maxxed out Freedom with about $4800/5000 on it, and I'm sure it's costing me FICO points, maybe 10-20, but it's a lower limit card and my overall util is still wayyyyy low! 0% sucks me in! Haha

[oscar_actuary]

Yeah, but how about having to pay that 3-4% fee right off the bat?