I have become more and more averse to debt as I have grown older and educated myself more. But I'm still open to it if we can come out ahead. With that in mind, this article from the Wall Street Journal this morning (http://online.wsj.com/article/SB10001424052748703890904575297353083622856.html?mod=WSJ_PersonalFinance_PF2) caught my interest.
The notion of borrowing from a 0% credit card and dumping the proceeds in an interest-bearing account is a good one. A few years ago, we actually started using such offers to move around our old student loan balance. Going the savings route, with $10K, could net you almost $180 in interest after a year (assuming that a portion of that $10K is used to make a $200 monthly payment to that credit card). There's only one hitch: the transaction fee.
Every time we move the balance from one credit card to another, there is a 2-3% transaction fee. So for the aforementioned $10K, we'd have to pay $200-300. Unless part of the lure of recent offers is the absence of such a fee, simple math shows that to be an unwise 'investment'.
