0%interest balance tranfer

**maat55** · 03-22-2008, 01:28 PM

I think snake charmers eventually get bit. If you can't pay the amount off during the one year of 0%, I wouldn't do it at all.

**safari** · 03-22-2008, 01:41 PM

Is there a balance transfer transaction fee? Usually it's 3%, and if there is no maximum, that 0% APR offer is really a 3% APR for a year. How are you planning to transfer the balance back to the credit union? Right now you have a car loan, but once you transfer it to a credit card, you can't transfer it back. You would need to find another credit card with 0% APR introductory rate and transfer the balance to that card, and then do it a few more times until your balance is paid off. How big is your car loan? How many months are remaining and what is the interest rate that you're paying now?

**LivingAlmostLarge** · 03-22-2008, 05:14 PM

Well according to DR it's okay if you intend on paying it off. It's saving you money to pay off more.

**cheshirecat** · 03-22-2008, 05:53 PM

I'm thinking we might put the smaller of our two car loans on it......it will be less savings.......but also less nerve racking because it can easily be paid off in a year now that i'm only buying that which i need and really really really want and it won't need to be tranfered to another card in a Year. we will save about $250 for the year after the tranfer fee.
plus we can take the collision coverage off it vehicle which will save us even more.

And we already have one card we are playing that game with.

**LuxLiving** · 03-22-2008, 05:57 PM

Before I'd bite I would call them and find out what the payment on that amount would be.

**cheshirecat** · 03-22-2008, 06:05 PM

they cant do it anyway because its a loan and the numbers are wrong some how

guess was not meant to be.

0%interest balance tranfer