Balance Transfer Cards are a very good way for people to get the most out of 0% interest. It is one of the major ways for anyone to be able to use their credit cared without hassle.

The best thing you can do for yourself if you want to use balance transfer cards is do lots of research and read the fine print. These cards can help you but at the same time they can hurt you if you are not careful.

There are many benefits to these cards as long as you check them out ahead of time. Here are some of the benefits:

You will have 0% interest for 6-9 months — this is a tricky one so you will need to read the fine print. This is a great benefit because it allows you to get your credit card balance paid down within that period of time. This means that everything you pay on the card will go to the principal. The best way to use this is to pay the credit card balance in total if you can before the interest rate goes up.

Keeps you on time for payments — these cards usually have a big penalty for being late so it keeps you within your budget. The balance transfer cards can go from 0% interest to 28% or better interest if you are late.

New purchase promotions – many balance transfer cards offer you a tremendous promotion if you will transfer your balance. Many of them will give you cash back for doing it. Check the card though because sometimes there is a charge for transfer and some charge a transaction fee.

You can consolidate cards — this is one of the benefits that many people use because it is so easy to do. Make sure you keep paying your minimum balance on the old card until the transfer goes through.

You can build your credit – this is another way that you can build your credit because your activity on the new card will be reported to the credit bureaus. As long as you pay on time you will get stellar credit reporting. Also, don’t forget to close your old credit line when the balance is transferred, otherwise it can keep collecting interest.

Allows you to save for an emergency fund — Since you are only paying half as much as you were paying before on your credit cards, you can roll the money that you were paying into an emergency fund, in case you need it. This is a very wise way to use the extra money.

Convenience checks –these can be an easy way to transfer your funds depending on the specific offer. Sometimes it is better to do it over the phone but you must read the offer to see whether this is the best way.

The Balance transfer cards can be a very good deal but you must make sure that you understand how to use them and what to expect.