Quoted from ercvacation:If you want to put it on credit, purchase with a cash back or rewards card. Transfer the entire amount within the first month to another one of your credit cards that is offering a 1% or 2% transfer fee and then 0% interest for 18 months. That way you get the benefit of cash back or other points and pay a very small amount in transfer fee. If you pay it off in 18 months, you almost did it for free. To each their own, but there are much better ways than paying 7% and up in interest.
I've done it a few times myself but you need to have the available line of credits to easily do so. Nothing wrong with putting credit that you've earned over the years to work for you.
Quoted from twenty84:Have you or anyone you know actually done this? Credit card companies are pretty savvy and generally don't take on a high risk unsecured loan unless then are going to make money. An article looked through several of these deals and found the actual cost is similar to a loan in which 7-12% interest is paid. Maybe a few people can beat the credit card companies at their own game, but most don't or these offers wouldn't exist.
https://www.nerdwallet.com/zero-percent-credit-cards
Credit card companies don't care that you're transferring the balance on a pinball machine purchase. They just want the 3% transfer fee up front and hope that you go past the 18 months still carrying a balance.
Pittsburgh, PA
