Balance Transfer Offers

Be careful about 0% balance transfer offer from credit card companies for the following reasons:
1. Usually, there's a 3% fee; hence, if the offer is for a year, you are paying 3%.
2. If the offer is for less than a year, you are effectively paying more than 3%.
3. Companies apply your monthly payments to the lower interest balance first. So, never do a transfer if you use it for purchases that always have a higher rate. You will only end up paying an obnoxiously high interest rate unless you pay all your balances in full, including your balance transfer, effectively nullyfing the reason for doing the balance transfer in the first place.