We get at least 1-2 credit card applications in the mail daily. I have heard that people play the credit card game of getting the 0% interest then when that runs out they apply for another credit card so they never pay interest.

Does anyone do this?

My goal is to pay them off. I am not going to be able to do this until after the intro rate runs out. So yes I will do this at least once. However, when I do I am not going to use that card. Just make payments until its paid off and close the card and hope I will not have to play that game again. I would rather not have any debt hanging over my head.

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Kimberly Proud Mommy to Bethany Rose April 2006

I know the best thing is to be debt free, but sometimes life just happens and you have to get into a little debt just to get by.

I just did this, but I do not and will not use the card for purchases, I did it just so that I will pay off the debt and not the interest.

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We did this and consolidated all our cards onto one card. Our credit is actually quite good. We have no lates, over limits or any other credit dings. Anyway, the first two months were great. The 5.9 fixed for the life of the transferred balances was what we were promised. Then month 3 Chase sent us a statement and had raised our rate to 29% FOR NO REASON. We called and they said our credit report was fine, no problems etc. but that they CAN raise the rate any time they want without having to give you a reason and that they really don't care what you were promised. Anyway, long story short (too late) we paid the balance that day with a card from USAA (for military families) and we will NEVER do business with Chase again. We have had friends who transferred balances, paid on time and did everything right then out of nowhere the same thing happened to them. We also have friends whose accounts were sold to bigger companies and the new companies said they never promised you anything so here's your new 30% RATE! It's a dangerous game to play and easy to play by the rules and still get screwed so be careful.

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Standard of Living and Quality of life are NOT the same thing.

I used to do this. I don't anymore b/c I got my debt paid off. If you do do it please be careful and read the fine print.

I do it. Read the fine print and save all the information that comes with the transfer offer. Debt is a part of life for most people - those that dont have it are in the minority and live in low cost of living areas. Do what you have to do -- dont pay any balance transfer fees though! Make sure its a 0% offer with no transfer fees, and always look to see what the rate will go up to at the end of the intro period and see if its worth it for you to do it.

This is exactly why I will never play the credit card game. If you even sneeze in the wrong direction they will raise your rate to a rediculous amount. I have always stayed with my credit union and paid my balances. They don't play games, I like that.

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The mighty oak started out as a nut that held its ground.

This is why you have to read the fine print. Chases disclosure statements plainly state that they can increase your rate at any time for any reason.

Other then they can change your rate. Does anyone know how transfering a balance to a new card for a lower rate can effect your credit. I think for me that is the biggest concern. I still feel this is going to be something I will have to do in another few months. Paying interest on my current balance even at 12% would be a waste in my eyes.

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Kimberly Proud Mommy to Bethany Rose April 2006