Having a credit card can give you a false sense of security. Somehow you find yourself being lured to make purchase after purchase by that little piece of plastic between your fingertips. It's a very common scenario. And if you are a part of the working class, it's not likely that you will be able to afford to pay your balance in full. So you find yourself paying the minimum amount due printed on your statement every month, only to find out months later that you're not that far from where you've started.

The reason for this is high interest rates compounded on top of your outstanding balance. Some credit card companies charge interest of up to 18%. And if you are only paying minimum, or slightly above minimum, you just can't win. Its time to think of an alternative and that is finding the best balance transfer credit cards.

What Is a Credit Card Balance Transfer?
Simply put, a balance transfer means moving your debt from one credit card to another. This is a very good way of saving money. If you have more than one credit card, you can even consolidate your debts by transferring all your outstanding balances to just one card. Many credit card companies offer an interest-free period, making them the best balance transfer credit cards. There are also some offering considerably lower interest rates than what you are putting up with.

How Does It Work?
A credit card balance transfer is pretty straightforward. All you need to do is apply for a new credit card. Once approved, you can give the details of your old credit card to the new issuer and they can transfer the balance for you. If your new credit card has an online banking feature, you can even do the transfer yourself. Of course, you have to do your research and find the best balance transfer credit cards that fit your needs.

How Can I Find the Best Balance Transfer Credit Cards?
Research might be painstaking but it can help you find the best balance transfer credit cards. Find a credit card that would let you transfer your outstanding balance from your old card with a 12-month 0% annual percentage rate, or APR. Also make sure that the new credit card offers low interest rates after the period is over.

Read the Fine Print.
If you plan to make purchases with your new credit card, be very careful. Even if they have a balance transfer rate of 0%, most credit cards still offer the standard, and sometimes even higher, interest rates for purchases. Any payments made goes towards your balance transfer. As a result, interest is compounded each month until your balance transfer is paid in full. The best balance transfer credit cards offer 0% or low interest rates for both the balance transfer and purchases. Also be aware that some credit card companies will charge a transfer fee for every balance transfer.

Protect Yourself.
Once you have chosen the best balance transfer credit cards for your needs, don't be too cocky to take further precautions. Where money is concerned, there are a hundred and one ways for things to go wrong.

• Do the balance transfer as quickly as possible. Most credit card companies have a limited period for you to take advantage of any promotions.

• If the approved credit limit is not high enough for your outstanding balance, just move what you can. Most people make the mistake of not using the new credit card because the credit limit is not high enough.

• Even with an interest of 0%, it is still debt. Always pay at least the minimum amount required to avoid penalties, or worse, losing the deal offered by the best balance transfer credit cards that you chose.

Manage your credit cards responsibly, or else you just might create more debt without a way of paying for it.