Hi,

The questions is not related to fidelity or investments in general. Its related to debt payoff. But I thought I can seek the wisdom of this group's posters for their inputs at my suggestion below.

I have a Home Loan in my home country. (Not US of course). The APR is huge 9% roughly.

I got this crazy idea. let me know if there are any caveats or gotchas..

* I have two credit cards - A and B.

* B is offering a introductory rate of 3% APR on the any "balance transfers" made from other credit cards for the life of the balance amount transfered. (Of course, there is a small foot print that I should not miss payments else APR gets reset to 21% or so and that terms of this may be changed without notice).

* Card A gave me a convenience check to use if I need.

The idea is -->

1. Write out a convenience check from Card A to myself for some $$$.

2. Use the $$$ to pay off a part of the 9% home loan or remaining of the home loan.

3. Do a balance transfer of the $$$ in step 1 to credit card B and pay it off using 3% APR.

Does this amount to paying 3% interest on the $$$ amount transacted ? Are there any potholes. Barring any caveats that I am missing, it seems to me as simple enough to do that many other smart brains out there would have figured out already.

what am I missing ?

 Thanks in advance for any inputs,