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Credit cards can be used as a useful tool for managing your debt and clearing it without having to pay any interest on it. This can be done using the credit cards 0% balance transfer feature, allowing you to move existing debt from a number of places onto your card, so you can set yourself a repayment schedule to ensure you pay off your balance in full within the 0% period.

You will usually have to pay a fee for using your credit cards 0% balance transfer option, which tends to be around 3% of the total you wish to transfer. This may sound like a lot, but if you compare this to the high rates you may currently be paying on your debt, this can be a very attractive option.

You must remember that the idea of moving your debt to a credit card is to pay it off, so make sure you plan how much you will need to clear each month until the 0% period expires. If you fail to clear your debt within the specified introductory period you could find a high interest rate is applied to your balance.