Is it a good idea to take advantage of credit card balance transfer that have 0% interest?

Short answer is YES. However it depend on what you use it for and be able to pay it off within the period that promotional offer such as 6 months to a year or so. For me example I took $5000 a year ago and by dividing it to 12 equal monthly payment I was able to pay off today, a year later, “Your account balance as of 03/01/2019 is $0.00 You’re receiving this email based on your personalized alert settings.”

From my experience, if you have pocket cash on hand of let say $5000 and want to grow this money within a year and you have pretty good idea of within a year your $5000 will grow bigger, such as Bitcoin or other alternative Cryptocurrencies, don’t be greedy once you see it grow consider selling it. So instead of using your $5000 cash in your pocket to invest, take advantage of your credit card offer 1 year 0% interest, you would only need to pay the transfer fees of 3-5% average, and then set your autopay to pay off within 12 month by dividing the total balance by 12, and ensure your set up autopay to pay off before promo offer ended otherwise you will be charge the interest for the original amount, so be careful.

The above method is safe because you still have $5000 cash on hand to pay montly. Let say your invest didn’t go up within that 12 months and your 12 months 0% interest come to an end, you don’t worry because you already paid it off with your $5000 cash on hand. Now just wait for your investment to go up one day, again, once you see a profit, consider selling it. The chance of your $5000 will grow is high, but again, once you see it grow, sell it, get your $5000 cash back, and your profit you can use it to play with it, invest on something high risk don’t worry about loosing because that money is free and you didn’t really work for it, you just earn it from doing nothing.

However do not use the balance transfer if you do not have money in pocket to pay it off. Do not use it to buy something that have no value to you or value in the future. Don’t use it just to make your bank balance bigger. Use it when you know 99% it will grow, use it when you know you can pay it back like having that amount in your pocket already.