transfering balance

[husker71]

I am thinking of xfering my cc balance to a 0% card   My credit sesame score is 803 so I think I can pick from quite a few      any suggestions from you??

[HawgWild]

You should be able to have your pick with that score. I switched over to a cash back, no annual fee, Capitol 1 card in the fall of 2013. I was planning an extended trip to Canada and they didn't impose a foreign exchange fee. I called American Express and my, at that time, VISA card company and neither would waive the 3% foreign exchange fee. I've switched everything over to my Capitol 1 Visa. Last month I applied $1,000 in accrued cash back to my monthly bill. Hard to beat that.

Sorry, misread your post. (Steroid shot effect.) I don't have any experience with a 0% cc. I pay off my balance each month.

[majestic]

I am thinking of xfering my cc balance to a 0% card   My credit sesame score is 803 so I think I can pick from quite a few      any suggestions from you??

Just make sure there are no balance transfer fees and that the rate doesn't  adjust to XX% after a period of time. Like HawgWild, I pay my balance in full each month.

[JoeyCapital]

Just make sure that the rate doesn't  adjust to XX% after a period of time.

I can, with 100% certainty, say that the rate will adjust to XX% after a period of time. Financial institutions didn't come to rule the world by making interest free loans.

OP- it's not a bad plan. The best course of action is, obviously, to pay them off. Just compare it to your current card. Make sure you have a handle on the interest rate, their ability to raise it, annual fees, etc. Then just do the math vs your current card.

I have a family member that carried a little balance on their card for awhile. Credit was excellent, so they got offers all the time for "0% for 12 months" cards. They would keep one for 9-10 mths and roll to the next. Went years without paying a dime in interest.

Just don't be late on a payment. Most of those offers ratchet up to a pretty high rate if you do something that triggers it. The card companies are using those offers like traps. They don't make much at all off of them as is, so they are putting things in place to legally shift you to a higher rate. You're playing a game against the card company. Make sure you know the rules.

[HawgWild]

Great advice there. +1