First thoughts on 0% APR

Well most credit card companies that offer 0% interest don't offer it for the life of the card. It's an introductory offer to try and win new customers. Ok that great. Sometimes the 0% APr only last for 6 months. Some companies will let it stay for 18 months tho, which is abit better. After the grace period its bamm back to high rates so you'd better take advantage. Another catch is they may only let you get 0% on the opening balance that you transfer from your old credit card. In other words you can't get 0% on your new purchases, you'd be stuck paying high rates on the new crap you buy. But if your smart you can save yourself a ton of money on interest. Say you owe $5000 on your visa gold card. They dingin you 18% lets say. Thats 900 buxx a year or 75 a month ininterst. So you mosey on over to yer local 0% intersest Credit Card dealer and sign on up, transfer that 5 grand over and there u go. You've just saved yourself 900 bones. Thats the true value of these cards and a good way to consolidate some credit card debt. Say you have 3 cards wit 1500 each racked up. Same story. Transfer all 3 of em over. But if your really gonna help yourself you gotta get the $5000 paid off during the initial 0% period before they hike your rates back to the moon. Well its food for thought, it makes sense if you have the will power to actually pay the thing off or if your wife isn't a shopaholic HAHA.