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Zero percent credit card offers - do the math before you leap
If you do find a zero percent credit card be ready for a sad fact. Usually they come with a hefty transfer fee. 

The transfer fee is usually about 3% interest. So if you transfer $5,000 you could be socked with a $150 transfer fee.

How would that compare with a low interest credit card? Let's do the math (using a simple interest comparison)

If you carried the $5,000 on a 6% interest rate for one year, you would pay $300 interest for the year. Actually it would probably be a little less because you would be paying a little principal for the 12 months. 

If you obtained the 0 credit card, you would pay 6% for the second six months of the year for a total of $150 plus the $150 transfer fee. So, your total would be $300 for the year. The loans would cost the same.

So, it depends on your annual percentage rate, your APR.  If your APR after the first six months is less than 6%, you would be better off to take the zero percent credit card offer. If higher, then it's probably not worth it. 

Remember the 6% figure is totally hypothetical Your rate will be, in all likelyhood, different. 

 

 

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