Credit Card Courtesy Checks

Among the items in my mail today were courtesy checks from Citibank for my Sears Mastercard. Two of them stated 3.99% interest until the balance was paid off and no transaction fees. While it isn't that great of a deal since my savings account only earns 4.50% interest before taxes, I thought I would give it a try for the simple benefit of boosting my emergency savings. I currently only have two months of expenses built up and it would be nice to have it closer to four. So, I made the check out to myself for $7,500 and cashed it without issue at my local bank. In a few days, the money will be in my EmigrantDirect account. Based on the 2% minimum payment requirement, I will need to pay $150 to begin with. Hopefully, I can squeeze my budget enough to make this extra payment from current funds and keep the entire $7,500 in my savings. In a way, this is an extra incentive to save.