Originally Posted by
Peckish
Please read the fine print very carefully. I've also received these offers, but the ones I get are not "loans" per se; they are cash advances on the credit card. The interest rate is 0% for a certain period of time and as long as you pay the entire balance by that date, you don't pay any interest at all. The credit card companies make money because a lot of people find that life gets in the way - an expensive auto repair or a medical issue puts the debt payments on the back burner, they can't pay the balance due within the time frame, and the interest on the original loan amount (not the current balance) is backdated to day 1 and tacked on to whatever the remaining balance is.
This exactly what I found. I have used cash advances in the past, but always paid them off before they were due so I didn't have to pay the interest. Be sure and check the fees associated with the cash advance and make sure you wouldn't be better off just to pay off the credit card the normal way. Depending on how long you plan to take to pay off the amount it may or may not be worth it.