If it is 0% until July/06? Why do I refuse to be in debt over $2500 for 0%?

Am I being too conservative? I ask because, we have no living room furniture right now, we are redoing the floors, and want to wait so we don't get into more debt. Just looking for some input, Thanks!!! We also need a new washer/dryer soon, and a new mattress...but the above are still semifunctional,and we are closing escrow on our vacation home tomorrow. Maybe I am just a but stressed! 2 mortgages, a car payment and all the credit card debt+DH on state disability...no for long just a broken leg!

Don't charge more at 0% than you have in savings. Don't use "0%" to spend money you don't have this is how the CC companies "snag" you, they are hoping that you won't be able to PIF by time the 0% is up.

It's not too much if you have enough income/discipline to pay it off.

I used a 0% for 6 months offer to get a TV at Sears. I divided the balance by 5 and set my bill pay to pay that amount automatically every month for 5 months. The TV was paid off on time and I didn't have to pay any interest.

ITA. Credit offers, even at zero-percent are not "extra" money, they are just an additional way to manage what you already have.

If you are uncomfortable borrowing more, something is telling you that you shouldn't, lol. So don't!
Get one or two things at a time, whatever you are comfortable with.
Pay them off and move on to the next thing.

OTOH, if you could easily pay off the debt, but instead choose to let your money earn interest while borrowing at zero-percent- that is a worthy option as well.

It sounds like you're stretched pretty thin--and you'll soon have a new mortgage payment to adjust to. If it were me, I'd wait and save the cash.

If you don't have the money, you don't have the money regardless of the interest rate. No need to spend money that you don't have unless you can PIF or in this case by month 8. 0% offers will charge the whole 9 months of interest at one pop if you don't pay it off early.

Also beware of "specials" on furniture because they might not be eligible for the 0% offer. It's usually an either/or situation just as a car dealership will keep the rebates if you get 0%. What I'm trying to say is that 0% via a store or dealer might not always be in the best interest of the consumer in the long run.

Always do the math first...and try not to spend money you don't have.

I think Radi8 sums this up the best:

"Credit offers, even at zero-percent are not "extra" money, they are just an additional way to manage what you already have. "

Just my $.02, but if I were you I'd skip the new furniture for now and stay out of debt.

But, if you really can't wait to get the furniture (and I'm just thinking out loud here)-- Do you generally get an income tax return? Maybe if you get back say $1500, you could only charge $1500 of new stuff and then PIF when you get the return.

But, that being said, CC debt of any kind makes me super duper nervous (b/c you never know what emergencies could come up that would keep you from paying in full before July '06.) I'd probably just go the garage sale/family charity route for temporary furniture and just save monthly until you have enough in the bank to cover the new stuff. Good luck in whatever you decide...

Others have summed it up relatively well...and much of the answer all comes down to your income level and comfort level.

For some, $2.5K is too much even at 0% for nearly 9 months and for others, it is a small drop in the bucket (as an example, I routinely run high four figure, low five-figure balances during the month before paying them off when the statement arrives- however, others would choke on that).

Thanks for all the insight! We have enough in savings to cover the credit card debt. We use them when we go travelto our second home to pay for flight and car rental. We also bought hardwood floors and other home related items. but, we won't max the out! One has a limit of 6K and we owe 1400, the other we owe 1000 and the max is 2K. I have never had so much in credit card debt, so maybe it is just me. I also tend to be a saver, and credit cards make me nervous, even at )%.
There is a rule that if you pay any bill late, they can renig on the )% and jack up the interest rate! Scary thought!
Sheesh~ we don't even own cell phones, or more than 1 phone or TV (19 inch)