How do balance transfers work?

Question

We have a Southwest Visa through Chase and recently received an offer for 0% APR through 12/12 on "balance transfers." In this offer, it included two checks and said that we could write a check to ourselves if we wanted. What I want to know is what exactly does this mean? We were planning on using this card for a large payment on something anyway, so would it be better to take this offer or just use the card as normal? The offer also says that as of 2013, the APR on the unpaid balance will return to 14.24%. So, would it be smarter to use this offer or just use the card as we normally would for this big expense that we planned? I don't understand credit cards, which is why we only have one! Thanks! :)

Go with the flow · Accepted Answer

Many people do not recommend carrying balances at all.
This can easily destroy your credit score.
Remember that employers check, so do lenders and car insurance companies.
For best credit, you should pay a credit card in full each month.
0% or 99% it does not matter when it comes to your credit score.

What happens if an emergency happens like you lose a job?
You have no emergency savings in place.  No way of paying that card.
Instead of buying that something "nice" you want, perhaps you should make it a goal to have a savings with at least 6 months worth of income.
No one should get a credit card without having a full emergency savings in place.

How do balance transfers work?

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