Nowadays many people are taking up credit card 'surfing' or 'rate tarting'. This process involves finding a good deal on a card, taking it up and then, when the deal is done, transferring the balance elsewhere to get a new deal. This can be especially useful if you have a large credit card balance and want to minimise the interest that is charged so that you can repay what you owe as quickly as possible.

Do be aware, however, that this kind of behaviour needs to be managed correctly. If you follow offers in a slapdash manner then card providers may notice your behaviour and decide that you are a 'rate tart'. This kind of activity will be clear to them if they look at your credit history to assess your credit score. This can actually have an adverse effect somewhere down the line -- you could find that you have an application for a financial product turned down because you have made too many applications for cards in a short time period. To many lenders, this signifies that you are a high risk.

To avoid credit score problems, NEVER make a lot of applications in a short space of time. It's far better to get quotes before making selected applications as this won't create a credit scoring 'footprint' and thus avoids creating problems with your credit history. There is some discussion as to whether its a good idea to hang on to cards once you have stopped using them. Some providers may regard a very high available credit limit across a number of cards as an exposure and down rate you accordingly, no matter how good your payment history. In all cases, it is absolutely vital that you show good general financial management. So, make sure that all repayments for financial products are made on time whenever they are due. Do not miss payments or make them late.

Most people here will either look for a discounted interest rate or a balance transfer deal. When comparing any deal make sure you look at the APR (Annual Percentage Rate) that is charged. This rate shows how much interest will be charged on outstanding balances over the course of a year. A discounted deal will cut the interest rate by a certain percentage for the period of the deal. Balance transfers will also cut interest rates -- some will even offer zero percent interest (which may also be extended to new spending on the card). Here, the balance is simply switched to a different card to get a better deal.

It is important to also think about how long you'll need an offer. Some last for a few months and some can be extended to over a year. Finally, make sure to read the small print to check for terms and conditions and hidden costs. Be aware that a balance transfer will involve a fee and make sure that the APR of the card that will be charged once the offer has run out is not too high or you'll lose any savings advantages you originally had.

It is important to remember to use credit cards responsibly. Although they make paying for things quick and convenient, cards do come at a price if you do not repay a balance in full every month. Interest charges here can soon mount up. Although there is no crime in seeking the best deal for any longer term balances you may have, avoid overtly 'rate tarting' and certainly make any new card applications with care and over a protracted period to ensure that your all-important credit score isn't compromised.