Credit card companies are all after your business and some of the deals available are very good for new customers. The idea of transferring your balance from an existing credit card to a new one offering say 0% interest for the first 6 months allows you to in effect take an interest free loan on money you are already borrowing at an existing interest rate. This can be one way of borrowing cheap money. In order to make the most of these offers you must be very astute with your finances as once the introductory offers finish the interest rates can be very high. Borrowing money on credit cards, unless you pay off the balance each month, is an expensive way of borrowing money and there are much cheaper ways of raising cash. If you are looking to carry out a balance transfer it is a good idea to check out a number of providers as offers can differ significantly from lender to lender.