Caught by the 0% interest balance transfer game

Alright, I have to admit I got caught by the 0% interest balance transfer game. We transfered part of loan a while back for about $4,000 on a credit card that had 0% interest for 6 months with no balance transfer fees. Sounded like a great plan since we would have the $4,000 paid off in less than six months, right?

Well, 4.5 months came around and we ran into some unexpected expenses and we still didn’t have the money to completely finish paying off the loan, so I had a great plan, transfer the balance to another 0% interest rate credit card with no balance transfer fees for another 6 months. I proceeded to fill out the online application and submit it for review. Of course I was approved in seconds and never thought much more about it until I realized the payment was due in 2 days for the loan and it hadn’t been paid off yet. It was Friday night and the payment was due on Sunday so the only option I had was to overnight the payment or call it in over the phone. $15 later I was paying the bill via telephone to avoid a $30 late fee from the credit card company. It really is hard to beat the credit card companies at any game!