I wanted to write another followup on my 0% APR credit card experience. For the previous history read the posts here and here. I've received a lot of email and comments from readers on these posts. Before I get to those I'll offer my personal feedback about 2 months into this process.

About one month into the borrowing period we got hit with a number of cash expenditures that I didn't expect and to my horror we cut into the balance. I have never carried credit card debt and now I was. This is not what I had in mind. It highlights the nasty reality of doing something like this - you damn well better make sure you don't spend the money. Luckily some Christmas gifts brought some cash into our lives and we deposited it to bring the balance back up.

Another way to look at it of course is we got a free overdraft loan. Now, I suppose that's better than getting hit with penalities as we most certainly would have. Of course, it would have been best not to spend the money at all.

Since that time I've decided to pay monthly bills out of our regular cash funds and attemp to keep the balance of the credit card money at $15,000 even. That allows for a buffer and the interest rates are higher anyway.

So, we're safe for now but the moral of the story is be very very careful doing something like this. There's a fine line between making some money for free and getting into some serious debt.mortgage calculator