The gotcha behind 0% credit card balance transfers At the beginning of this year I have financed solar panels on a low interest line of credit with Scotiabank. In May I became aware of the 0.00% balance transfer option my MBNA credit card was offering and shortly afterwards I had the line of credit transferred to my credit card. I have done the home work, worked out the total costs (fees) to transfer over, called in to learn how things worked, confirmed there would be no interest charged, even confirmed that it will be ok for me to transfer any remaining balance back onto my line of credit before the promotion ended. Furthermore I recall explicitly asking what is the catch or hidden costs or anything else I should know about and was told there are none and no. When the first statement came it did show 0.00% promotional offer on the transfer and no interest, I felt smart, savvy, and proud to have saved a few hundred dollars in overall interest costs. But there is a gotcha ...