Still torn on those 0% balance transfer cards, do they ever backfire?

I moved $4,800 from a 19% card to a 0% offer with a 3% fee back in March, and honestly it's been smooth so far. But my buddy swears he got burned because he missed the promo end date by 2 days and got hit with retroactive interest on the whole balance. So is it just a discipline thing or are there hidden traps I'm not seeing? Has anyone else had one of these go sideways on them?

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elliotm571mo ago

Wow, I used to swear these cards were a total scam and never touched them, but after watching my sister clear $6k with zero issues, I've flipped on it. The retroactive interest thing is real though, and it's 100% about setting a calendar alert for the cutoff date, not just the payment due date. If you can handle the discipline part, the savings are worth it, but I've seen enough forum horror stories to say your buddy's warning isn't overblown.

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