Originally Posted by itsme
3. Do a balance transfer to another credit card with 0% interest for 12 months, no transfer fee. Have I been missing out on a good thing, that is free money? I have always ignored come-ons to transfer balances from one card to another because I try never to carry balances and because I have always assumed it would not be a good deal. Don't they treat transfers something like cash advances, imposing an upfront 2% or 3% fee? There are cards that would invite you to transfer $5K in debt over to them and let you have the use of that money for up to 12 months with no interest or other charges for the privilege? Which cards are that generous/stupid?
I have a balance transfer out with Discover now for a couple of years. The interest rate is 0 and I don't use the card to charge anything. It was up to $13,000 now just under $10,000 since I must pay the minimum balance each month. I had little or no balance transfer fee. Also did this with a couple of other offers a couple of years ago. I figure I have made $1000 just borrowing their money. The banks don't like people like me!