I used 0% credit cards back when we were trying to pay off our accumulated credit card debt out of residency. We had almost $33k in credit card debt, I got two 0% credit cards and transferred the balance. Started paying on it, when the 6 months was up, I would transfer the balances to each other and get 0% again. I think I had to sign up for a new card a couple times, once I started getting the 0% for a year on transfers it was much easier. Basically removed all my interest while I was paying em off.

Currently I only carry one card, a Capital One Mastercard, I canceled all the rest after we paid off our debts. Now we pay the card off each month, if we use it at all.

they're awesome. i did a cash advance on a card where my interest rate was about 27% and bought a truck with it ($4k)..that loaded up the card. next thing i did was an immediate balance transfer of all of it to a 0% for 12 mos. citi card. and it's true, if you're late on a payment, wham, they nail you with the high rate. this happened to me after a few months, as i was going through some distracting times. but no worries, i got a chase card with the same 0% offer and simply transfered the balance over to it. bingo..back to no interest..i'm just more careful now. so, i pay $100 a month. when the time comes in a year, i'll roll over to another card, as mentioned before until everything is paid off. everyone's competing for your money right now..use that to your advantage, but understand the limitations. if you're careful, you'll avoid a lot or all interest.
ryan

Transfered a 5% card to a 0% Discover. Seemed like the wise thing to do.

Joe - agree, all things get shredded.

one big down side is the transfers effect on your credit score
the raters give a big hit on transfers and that can have a big effect
on car boat or home loan rates
as do getting extra CC

but canciling CC also has an negitive impact
better to keep a CC and just not use it at all
and limit how many CC you have

credit cards are evil. i stay away