Credit card Question...?
First off I don't use my credit card hardly at all. I am planning to go to Hawaii this summer and I was going to get a new credit card with 0% APR for the first 12 months. If I don't pay it off by next year, should I transfer the balance to another 0% credit card? Is this bad for your credit in any way? Is there a better way to go about this?
The Answer : I like to call it "Credit Card Roulette"....eventually it will come back and hurt you.What many people do is get a new card, transfer the balance, then run up the first card all over again. Now they are in twice the amount of debt. Eventually the will file for bankruptcy.IF you have good self control, this isn't a bad idea. But over the long run it will start to hurt your credit.
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