Double check the terms, it may be only on purchases that contributed to the balance so you may need to pay for things rather than withdraw cash. But essentially yes, this is an interest free loan. Apply for a new card at above your current balance (as you can only transfer 95% of the balance) and then pay it off. We just did similar over 6 months for a car purchase. We did have to close the original credit card thought, but no issue as we now have the new one with an even larger credit limit.