Quote Originally Posted by Wulf202 View Post
If you're disciplined enough to use the credit card debt switching you might be able to pull off not paying a transfer fee. Sometimes you can call the new company and negotiate the fee down or spend 4k of your normal bills on the new card during the interest free period and pay off the old card.
I have used the method you described in the past, and it actually made me a little money (credit card points/incentives). Balance transfers almost never qualify for the rewards on CC's.

Saying that, don't get suckered into CC's because of their rewards. If you can benefit from them, while using the card responsibly, fine. But if not, don't even worry about the rewards.

One guy I worked with in the past actually used a chunk of his inheritance to game the CC companies. He would take his $5K card, and order $5k of $1 gold coins from the mint, and he would get 3% cash back on his purchase. Shipping on $5K of coins was ~$40, so he would net $110 each round. He'd just apply the points to his bill, take the coins to the bank, deposit them, and then pay his bill off. He was pissed when they quit letting people buy the coins.