@Watchmann wrote:
Yes, that'll work, but it's fraught with pitfalls. If you miss a payment, or have a check returned, or if the CC company decides to jack your rate 'because they feel like it' you may be left with a large balance at a bad rate. In today's environment I would be very careful putting a large balance on a CC if I wasn't sure I could pay it off within six months or so, or didn't have an exit strategy to pay it off with other funds if the loan blew up and the rate gets jacked.
True, which is why I never miss a payment (I pay more than 10X the minimum, split between two biweekly payments), and I don't bounce checks (I pay online, and the amount is deducted immediately.) They seem happy with me, as they've already nearly doubled my CL, but if they feel like rate-jacking me, I'll pay it off immediately.
I did this solely for financial reasons, not because I had to.
People need to really scrutinize these 0% offers. If for instance you had to pay a 3% transfer fee that's 240 upfront for a 12 month 0%. If you were planning on paying it off in those 12 months and split those payments, you'd pay 686.66 for 12 months. Now take your 4.05% . If you paid 681.38 a month it would take 12 months to pay off. With interest 8176.56. You've just paid an extra 63.44 to transfer your money. Unless there is no transfer fee than it's not truly a 0% offer. 