Would this work...

chippy_250

Instead of having a £100,000 mortgage paying interest.
Could you have ten credit it cards with £10,000 on each with 0% interest for 12 months? Then every year transfer the money onto another nine or ten cards depending on the amount left to repay.
If this could work you would avoid paying any interest.

Would my idea work? (Don't shoot me down too hard I'm only 20)

rich744

Mmmm..... Doubtful.

Most if not all 0% credit cards have transfer fees of a least 5% which negates the benefits of this idea.

playing with 0% cards can be very effective though, and the Stoozers know all about it.......

SeriouslySeekingtoSave

Yes, check on the Credit Card Stoozing thread. All the experts for that sort of thing hang out there.

RosieTiger

I think you would struggle to find ten cards all at zero percent and then another ten at the end of the year to do the same with. That's besides any fees.