re: What are the benefits of 0% APR?

quote:

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am single and make $60,000 a year. I don't need the card to live on. My remaining student loans are at a fixed 6.8% at $6,931. I can easily pay this off in a year. This would obviously save me a few hundred dollars on interest charges. Is this not the best route?

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I don't think that's the point. The point is - put all your gasoline, food, routine purchases (purchases you would have made with cash) and quickly pay the loan off - like in 4 or 5 months - THEN switch to paying off the balance before the introductory offer wears off. That's the most bang for your buck, literally, as you will not have to futz around with balance transfers (with a much higher rate), or figure out the rules on how to transfer a SL to a 0% APR credit card (you probably can't, and if possible, I would bet it isn't free).

So, if you get the balance paid off in 4 months, you're looking at $40 to $65 (vice $300 or so) dollars of interest, nothing on the credit card, THEN rush to pay off the card before the intro rate runs out.

In other words, you don't have to live on the card, unless your rushing to pay off $7k of student loans in the very short term.