<prompt> Human: I got myself into some bad credit card debt last year - roughly 23k. I started tackling the mountain about 3 months ago and have paid off 8k leaving me with 15k. Last week I took out a new credit card with another bank offering a 0 interest rate on balance transfers for 15 months. So I offloaded all my debt from credit card A with a 22 interest rate to credit card B with 0.To pay off the debt while making use of the interest free period I would need to pay 1000 a month to have it cleared within the end of that 15 months. However I could probably clear the debt in a 3rd of that time if lived semi poor and threw most of my pay-check at it each month. But it got me thinking, if I were to just pay the minimum 1000 a month towards the debt, but then put that extra money from living poorly into a savings account I would actually be earning interest on it whilst not paying any on my debt. What are your thoughts on how I should proceed?  <response>: Congrats on the card! With a 22 APR at a 15k debt, you would be saving 2547 on this debt alone!Yes you would be earning interest albeit not much. Just dont set up a vanguard account trying to earn high interest and risk the chance of losing money. Ally bank, discover, cap one .95-1 is fineAs long as you treat your savings account as an escrow account for that card. AND setup a new account for an emergency fund, I say do it.I highly recommend setting up automatic payment on the slate account so that you stay on schedule. 