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In good economic times or bad, everyone wants to pay less than necessary. They also want to save more if possible. When the two ideas meet, they get a 0% balance transfer credit card.

Many people have heard of 0% balance transfer credit cards, but not all know exactly what they are. Even fewer understand how the cards can loosen tight budgets, promote responsible card use and maintain a good credit history.

When people want to lower the interest rate they pay on rotating credit, the first thing they look for are cards that offer lower rates. If they find one that charges 0.5% less, they apply for it and use that one instead of the higher-interest card that has reached its credit maximum.

These people are now paying two card bills instead of one. That can actually be a good thing. Paying at least the minimum balance due maintains a good credit history and an excellent record with the credit company. However, there might be a better way: Transfer outstanding balances off interest-accruing cards onto one that provides an interest free period of at least 16 months.

This kind of saving lifts a responsible card holder above the credit-using crowd.

As with most cards, these interest free credit cards still offer purchase protection insurance, lost or stolen card limited liability and a host of other benefits and conveniences, none the least of which is one-call support for reporting those lost or stolen cards!