Gold was over $800 in the 1980s. How can gold only be $650 now with a mid-sized house going for over $1 million? Ask yourself that question and, if you find the answer, you might be one of the few that survive the next 20 years financially speaking

Good luck all.

It is important to note that before taking advantage of any of these offers, make sure that the card is fully paid off, and don’t use the card for anything else. Otherwise your payments will pay down the 0% interest balance, and the high rate balance will remain until the balance transfer offer expires and everything is paid back in full.

I just found this site…I’m new at this…we have a 19% auto loan, paid down from 10,000 to 5,777…(Our credit is much better than it once was)…I’m thinking about applying for a 0% card and transferring the 19% loan…what do you think?

The only thing to make sure is that you can pay off the $5,777 by the time your 0% runs out. Of course the credit card may have a lower rate than 19% anyway.

he is claming there are people with 420k+ in 0% offers on credit cards. No were did he say you can gamble with 0% offers and make money on the stock market or loose money.

People on Fatwallet.com have been doing it for a long time and I think highest ever reported amount on there is slightly over $200K out at any one time. Still easy $10-12K but far short of your claim of $25-50K a year profit.

When I have made a balance transfer with fees, even the $75 transfer fee was cheaper than what I would pay in monthly finance charges so I still came out ahead after the second month.

sure there are.. nice how you failed to provide a link to substantiate your claims..

Also, have you any idea how much money you would have to have out there to make $25,000 – $50,000 A YEAR from INTEREST???

Also, if you charge anything, they pay off the zero balance first, so your purchases will be accruing interest.

I’ve not done any zero percent, but have done small percent transfers. Just read the fine print.

Although there are some short-term negative impacts to your credit score, these problems are remedied relatively quickly after you’ve payed off your balances and closed these accounts. As long as you don’t plan on taking out a new mortgage, or making any BIG purchases soon– why not take advantage of these offers???

Right now, I’m doing a transfer to get a better rate on my car loan, but I’m paying it off in 6 more months (about $12,000 left on the original $15,000). I did get $3,000 extra and threw it into the HSBC 6% account, just to try to earn back some of the $75 transfer fee.

This time, my mental hate of something is getting in the way of a logical money-making scheme, but I’m fine with that for now.

Also, don’t forget the minimum payments; you may not be getting the interest rate on the full amount transferred for any but the first month if you have to put more than you are getting in interest back onto the card to avoid defaulting.

I considered trying some arbitrage a while ago when the online savings rates were at 4%, but the payoff was not really worth the risk. I don’t have any trouble paying my debts on time or early, and I am reasonably sure I would be able to cover the hassle part of everything without any trouble, but I can think of better ways to get a few hundred dollars in a year.