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Author: ortman Big red star, 1000 posts Old School Fool Add to my Favorite Fools Ignore this person (you won't see their posts anymore) Number: of 308881  
Subject: Transfer balance to paid off card Date: 7/18/2003 2:50 PM
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This might have been asked a few times.... but I can't see where.

At any rate, I've been getting lots of offers for zero % on balance transfer for 18 months or so. Usually I pass on them, as I don't carry a balance. However, I'm about to purchase a few expensive items, and wouldn't mind taking advantage of the free interest if I can.

The items are going to cost about $3,000. I'm guessing they would give me a much larger credit limit, so I want to take advantage of all of it if I can.

I use an American Express card for all of my purchases, then pay it off every month. I end up putting about $1,500 or so on it monthly.

Question:
If I got a new card that allowed me to balance transfer $10k, could I transfer the whole amount to my AMX card....... then carry a negative balance on my AMX card until my new toys and monthly expenses eat it up? Meanwhile, the balance would be interest free on the new card......

I'm sure I'm not the only one who has thought of this... is it doable?

Thanks,
-Ortman
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