UncleB wrote:
ecxpa wrote:Doing major remodeling and thinking about doing a 0% BT from Lowes card for 12K......the 0% offer is only for a year and I may carry the balance for 18 mos. Would it be bad to carry the balance for a year on one 0% card and then transfer the remaining balance to a new 0% card..........just wondering how lenders view this. In essence it amounts to financing 12K @ 0% interest. I know there may be BT fees but 0% interest makes it worth it.
I personally don't see why what you're describing would cause a problem.
If your 0% interest period is coming to an end, IMO the prudent thing to do would be to roll the balance to another card to avoid (or minimize) interest if possible. As long as the 'numbers work' (i.e. the BT fee is lower than the interest would be if you left things alone) I would personally do it without hesitation.
I've always been of the school of thought that credit cards are financial tools for me to use... if any lender is watching me so closely that they would have an issue with me moving a balance then we're probably not a good match, anyway.
+100
As usual, solid advice UncleB.