US credit cards do it. It’s a temporary offer to get usage or trap you 🤷♂️. But I just deploy it from a positive net worth position so it’s easily paid in full at the end of the low percentage period. Each card may be 30-40k but they add up. Mind you, they all started at 2-3k but over the years they end up high limit with responsible usage and asking for a bump in limit every 6 months without letting them do a new credit pull. Always keep your credit frozen.
Discussion
Very interesting. We don’t have that kind of set up or options in Germany.
We get a lot of cards offering 0% on balance transfers for 12-18 months here in the UK.
The scam part is the transfer fee. Most people paying off the minimum payment spend the 12 months just paying off the transfer fee.
I have £5,000 in CC debt, and its time to transfer again. I pay 2x the minimum payment plus the transfer fee divided by the time period of the offer. The last time i did this i was paying £125 a month.
Gets the capital paid off quick which lowers the transfer fee so when i do this agin that fee will be lower. So more of the £125 goes to the capital.
You got to play the gane to your advantage 😂