1. If you are paying interest on your outstanding credit card balance, then you can save yourself all that interest you are giving to your credit card company by applying for another credit card that offers a 0% interest rate and transferring the balance from your existing card to your new one . Usually these 0% interest offers last for a set period of about 6 to 9 months and the money you save can be substantial. Be careful when selecting a new credit card to apply for as some of them now charge a balance transfer fee of around 2% of the balance transferred, so make sure you pick one that doesn