Just received a new credit card application

[Value Buy]

in the mail, giving me free interest for 18 months on a balance transfer from another card.
We have always paid off our credit cards on time, and carry no balance.

We just put a new air conditioner on our card for just over $5,000.
I am thinking instead of selling some mutual funds that are down badly, I should just transfer the money to a new card, with no interest, and hope the stock market regains a little this year, and then sell.
Is jumping from one card to another a good thing to do?
We have excellent credit. Will this hurt our credit rating if we transfer the $5,000?
How do you transfer the money from one card to another, and what steps are involved?
Thanks!

[Deleted]

I can remember when we used to do this all the time... What is the fee though?

[souldoubt]

I just got one of those as well through one of my cards which would give me 0% APR on it through late next year but the fee was the higher of $5 or %4 of the balance transferred.  Another one of my cards is a 0% APR card through later this year that I charged some stuff and am paying off before interest kicks in so when I initially got the offer I considered it until I saw the fee they'd charge.  

Edit - I don't think opening a new card and/or transferring the balance is going to ding your credit much.  Yes you'd have a new card but you'd have more available credit you're in theory using less of.  The offers I get allow me to transfer balances in one of three ways - they provide checks I can use to send to other CC companies to make a payment which transfers the balance to the other card, I can do it online or there's a phone number you can generally call and they'll walk you through it.  

[Tiny]

Is jumping from one card to another a good thing to do?

This is a situational thing... it sounds like this may be a useful/inexpensive tool for you to use.

We have excellent credit. Will this hurt our credit rating if we transfer the $5,000?

Again, depends on your situation. I did an 8K transfer to a 0% cc (with a 12k limit) and my credit score didn't drop below 800. It will depend on how much 'utilization' you got going and how many cards and how much other debt you've got. I think you can read and manually calculate how carrying this debt will effect your credit at myfico.com I think bankrate.com also has useful information.

How do you transfer the money from one card to another, and what steps are involved?

Depends on the offer - you may have gotten a couple of 'checks' that you could use to pay off one card (and transfer the balance to the new card). You may need to call the CC (that you want to transfer to) and they will do it over the phone (have the info for the account with the balance). In some instances the checks/offer will specify that you can 'write yourself' the check - and deposit the $$ into your checking account and then do whatever you want with the money.  Do NOT assume that you can write out the checks to yourself.    You don't want the cashed check to be a "cash advance" EXPENSIVE!!! --  you want it to be used for the "balance transfer offer"...

I'd read thru the fine print on your offer. I haven't received any "0%, no fee" offers yet. I did receive a "0%, 3% fee up to $149 max fee" though.

You will also have to make at least the minimum payment each month or bad things happen.

[Gardening Grandma]

Is there a balance transfer fee?  If not, I'd do it.