Good or bad idea?

if i am offered a credit card with 0% interest would it be a good idea to take the full amount and put it into a cd?

Good or bad idea?

well, there is likely a cash advance fee, so you would have to watch out for that. Look it over and add up to the total cost of the cash advance fee, any annual fee, and other such things, and compare it to the interest you would make on the CD. Also remember that you would still have to make minimum payments on the card even though there is 0% interest.

Good or bad idea? loan

No way! The money you use on a credit card is just like A LOAN. You have to pay it back, or it looks bad on your credit report. I bet if you read all of the fine print you would find out that the 0% interest is only for a short time period, like 3 to 6 months, and after that jumps to some huge, outrageous amount like 19.9%. If you were to take the credit card sum and put it into a cd that%26#039;s for a set amount of time for the average interest of 3.5 - 4.5%, you wouldn%26#039;t even make enough to pay back your bill!|||I don鈥檛 know which card you mean but I bet that if you read it in full it will sound like: 0% Interest ON PURCHASES! What you鈥檙e asking sounds to me like you鈥檙e suggesting take the full amount in CASH: that will be a very different history concerning interest.|||If you are not planning on trying to obtain credit in the future and the interest rate is absolutely not going to increase, I would say it%26#039;s ok, but probably not a good idea.

A big part of your credit score is your UTILIZATION. If your limit is $1000 and you use $1000, your utilization is 100%. This looks very bad if you%26#039;re looking for a loan or more credit in the future. It appears that you are in dire straits and are maxing out your cards.

A better idea might be to take your actual cash and put it into a high-interest checking or savings. Many internet accounts through reputable banks offer rates that are competetive with CD rates.|||I am not sure why you mention to put a credit card available in a CD account? Beside even if you use the %26quot;convenience check%26quot; to deposit to a CD account, why do you want to borrow money to put in a CD account? As personal finance, is you don%26#039;t want to borrow money not even for emergency. So you think you can make a tiny little bit of interest from this deposit? Do you own any debit at all? If so, you need to try to pay those off FIRST and not to charge any more to any credit card. the only good use of the zero interest rate credit card is to help you pay off your other high interest rate credit card debits. And make sure you can pay it off WITHIN THE INTRODUCTORY RATE PERIOD.

The best way to save money is from your hard earn money, so work on your budget and set aside money to put in savings account, and when the balance meets the minimum requirement on a good CD (high interest rate), then move the money over there.|||no!!!