[margarita_momma]

Has anyone ever moved their credit card balances to new credit cards to get 0% interest rates? I have two credit cards with about $2000 each on them. I got a couple credit card offers in the mail that have 12 month 0% interest on balance transfers. My current credit cards have horrible interest rates and I am thinking of transferring the balances to the new cards.

Is this a safe way to go and if so does it work? I plan on getting these two cards paid off in the new year.

Any advice is greatly appreciated :D

[ScottGem]

I've done it several times. Generally I don't use transfers with an expiration date unless I know I can pay the balance before the expiration comes due. Such offers tend to have higher interest rates after the expiration date.

Also you need to be careful with such offers that you make SURE you pay on time. If you are one day late, they void the promotional rate and jack it up to a higher rate.You also have to be careful and NOT use the card until the promotional rate has expired. If you do, that charge will be paid AFTER the lower rate balance so it will sit gathering interest at the higher rate.

But if you are disciplined about it you can do it. You can also try talking to your CC company. Explain to them that if they don't reduce your rate you will move your balances to another card.

Currently I have one card with a 3.99% rate and another at 6.99%.