Trying to Reduce Interest Paid

I’ve mentioned in several of my blog postings that I would like to consolidate a few of my higher interest credit card balances to a card with a 0% rate, to save money while I’m getting rid of my smaller debts.

The best offer i have received lately was 3.99 percent for 6 months.  If nothing better comes along, I may do that because even after the 6 months is up the rate will be lower than I’m paying now.

I decided to apply for a card that offers 12 months of 0% interest on balance transfers and 5% cash back on gas purchases.  The web site said that I “could” be approved instantly before I submitted it, but then I got a message that the decision would come in the mail.  I wonder if that means the answer is “NO”.

If approved, I will only use the card for the balance transfers and then when they are paid off, I could use it as my gas card.  I could buy my gas with it, get 5% back and pay the complete balance each month.