This is a sensible question really, but i suppose that if you’re looking to transfer a balance then the answer is going to be “of course i do!”  If you want to cut your existing debt then this is a perfect way to do it.  Getting a 0 interest credit card is one of the cheapest ways of obtaining credit, and if you manage your finances there are enormous benefits to be had from it…

First of all you have to look at your balance and see whether it is indeed possible to clear your debt in a year (i say a year because the majority of free 0% balance transfers are 12 months).  If you think that it’s acheivable or that it would bring you significantly closer to your target then go for it.  If your balance is very high then my next idea may not work so well for you; it’s difficult to say what a high balance is in this case because what we are talking about depends on your ability to pay it back or at least pay some of it off over time.

If you think that you can virtually do it, but that you might need a little more time you could try “tarting”.  This is where you move your balance again before the 0% interest on your current credit card runs out.  This way you can pay off your debt without ever having to pay interest.  However, it must be understood that you can only do this a certain number of times before this activity too starts to effect your rating (this is why the huge balance shouldn’t be tarted too many times).