CC Balance Transfer Checks?

[NullUnit2000]

Being avid GotApex'ers I'm sure we've all had to deal with excesive credit card debt. :rolleyes:

I use two differesnt cards for my online shopping and every so often one company or the other sends me these balance transfer checks with a low(er) interest rates if I use them to transfer balances off other cards.

I used these once and ended up saving quite a bit in interest. Now the company I transfered the balance off of sent me checks with an even better rate.

I'm tempted to take advantge of this new offer, but I'm not sure how CC companys view customers who use these.

Anyone have any insights or advice?

[blueindian]

you don't want to switch too many times. i'd say wait until you get an offer for 0% that lasts for at least a year. transfer on to that, and wait the full year before you transfer again.

if you switch back and forth too many times, they will stop sending them.

[WhiskeyPapa]

Who cares how your CC company views you? If it's a better deal, take it. Before I swore off using credit cards, I'd surf my balance at least every 6 months. Never ever ran out of CC companies offering me a better deal.

Now watch out, sometimes there are hidden balance transfer fees. Read ALL the details of the offer. I have been hit with a $35 transfer fee before. Also, most of these offers have strict consequences if you are late on even one payment. Some will even charge you the full interest rate retroactive to the date you transferred the balance.

Better yet, pay off the credit cards and be done with them.

[Butch]

I just transferred all of my balance to a card that had no fees and 0% APR for the transfer until mid-2004. Sure as heck made sense to do it.