No. of Recommendations: 38
NEVER, EVER use a 0% Credit card balance transfer. All of the offers I have ever seen involve using 97 cent dollars. That is, there is almost always a 3% balance transfer fee up-front. These are NEVER, EVER a good deal for the debtor.

- what if the transfer is from another card that has a current rate of 18.99%
- what if the balance transfer fee is capped at $75. (have not seen one of these offers in awhile)

There are no absolutes. You should never use NEVER, EVER. Let math determine if it is a good deal.

Print the post  


UGC Disclosure Notice Regarding Credit Card Posts
Community board discussions about credit cards are not provided or commissioned by banks who may have advertising relationships with The Motley Fool. Responses have not been reviewed, approved or otherwise endorsed by the bank advertiser. It is not the bank advertiser's responsibility to ensure all posts and/or questions are answered.
TMF Credit Center
The Motley Fool Credit Center arms you with real tools and simple messages, that will help you in every credit situation.
When Life Gives You Lemons
We all have had hardships and made poor decisions. The important thing is how we respond and grow. Read the story of a Fool who started from nothing, and looks to gain everything.
Contact Us
Contact Customer Service and other Fool departments here.
Work for Fools?
Winner of the Washingtonian great places to work, and Glassdoor #1 Company to Work For 2015! Have access to all of TMF's online and email products for FREE, and be paid for your contributions to TMF! Click the link and start your Fool career.