Money Crashers: How to Use 0% Balance Transfer Credit Cards Responsibly

My latest Money Crashers article covers something I've never actually tried myself: zero-interest balance transfers. Actually, I've never used any sort of credit card balance transfer, because I've never had a balance to transfer. I'm what the credit card companies call a "deadbeat"—someone who always pays off her balance in full every month. For me, credit cards aren't really a way to borrow money; they're just a more convenient way to use it.

However, if I did have a credit card balance, I would certainly be intrigued by the possibility of using a zero-interest balance transfer to pay it off. With these offers, you move debt from your current, high-interest card to a new card and pay no interest at all on it for up to a year and a half. This makes it easier to pay off the debt faster, ideally allowing you to eliminate it before your zero-interest period expires.

Of course, there's a catch—several, actually. My article examines these in detail and then explores ways to avoid the pitfalls and turn zero-interest balance transfers to your advantage. Read it here: How to Use 0% Balance Transfer Credit Cards Responsibly