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Updated over 9 years ago,

User Stats

1,980
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948
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Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
948
Votes |
1,980
Posts

Balance Transfer Credit Cards Question

Bryan L.
  • Residential Real Estate Agent
  • Cookeville, TN
Posted

I've recently been using some of those "0% Balance Transfer" cards to help fund my deals. They have a 0% introductory rate for 12 months or so, and you pay 3 points up front. That's incredible compared to hard-money. Anyway, I have one of my rehabs finished and it's under contract to sell and will be closing soon. I will use the proceeds to pay off the cards before the introductory period ends (which is soon). Here's my question. When the introductory period ends, and if I have no balance on the card, can I just cancel the card and then apply for the same card again to get a new introductory period? Has anyone done this?

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