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Old Sep 22, 2008 | 7:28 am
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tev9999
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I've seen discussion on this over at fatwallet finance, so you might want to check there.

If you have good credit and can secure some 0% balance transfers or very low APR for life offers on a credit card it may be a good idea. With balance transfers you will have to flip cards annually to keep the 0% otherwise it will shoot up to 9% or more. Missing a payment could also see your rate get jacked up to 25%+.

You will have to do your own analysis on how much you will save vs. the hassle of credit cards and increased risk of high rates. I did similar with my new car. I decided to buy it with credit card 0% money. I'm saving 6% interest, but I also now have to find a new 0% offer to cover the one that is expiring. I have to pay back the money (from my HELOC) for a short period to get my credit report clean to get the best 0% offers, so I will have a month or two of a balance on my HELOC @ prime, which is tax deductable and still better than 6%. The HELOC is my backup in case I get rate jacked, so my risk is lower.
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