MARTIN Lewis has revealed how Brits can clear thousands of pounds of debt racked up on credit and debit cards.
The MoneySavingExpert founder explained how applying for a 0% balance transfer card is a good idea as it allows you to pay off your debt without paying extra interest.
If you have credit or store card debts that are gaining interest you can move the money you owe onto the new card.
That means you can focus on repaying the debt, rather than the amount added in interest, and it can help you get back in the black faster.
“If you have got credit card debts and you need to sort them sooner is safer,” he told The Martin Lewis Money Show Live.
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"If you can't afford to clear your credit or store cards in full you cannot afford not to check for a 0% balance transfer.
"That is the prime weapon in cutting your costs.
"It's a new credit card that pays off your old credit card so you owe it instead."
However, only those with top credit scores are accepted for the best cards with the longest interest-free periods.
Martin said the first step is going to a balance transfer eligibility calculator to see cards you'll be accepted for.
These tools check how likely you will be accepted for a card without damaging your credit score.
That way you avoid making multiple applications that could seriously dent your credit score and instead you should focus on one card, he explained.
MoneySavingExpert has a comparison tool to help you decide which balance transfer card will work for you and card providers also have them.
Making that one application is worth it even if it impacts your credit score slightly or its rejected, explained Martin.
Even if you do get accepted, you may also be offered a smaller 0% period and be charged a bigger transfer fee.
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You should never miss the minimum monthly repayment or you might lose the 0% interest-free period, meaning it will cost you more.
After the interest-fee period you will be charged 21.9% per year, so make sure to pay off your debts by then or consider switching the remaining balance to another card.
You shouldn't spend or withdraw the cash as you'll be charged and it could affect your credit rating.
Consumers usually have to transfer their debts within the first three months of opening the card to get the interest-free deal - so make sure you check the terms and conditions.
How to transfer your debts to a 0% card
You can usually apply for a balance transfer credit card online or on the phone, and banks may be able to help in-branch.
To make an application, you will need to provide your name, address and an email as well as details of your income so a provider can assess your eligibility.
You will also need to provide details of how much money you want to transfer to the new card, but you can often do this after you have been accepted.
Applicants need to be over 18.
If your application is approved, you will need to transfer the balances within a set period, usually around 60 or 90 days.
Your old balance will then be cleared and you can start making interest-free repayments on your new card.
There are lots of different approaches to clearing your debts, including the snowball method which involves repaying the smallest first.
We spoke to a debt expert who shared her top tips for repaying the money you owe this year.
If you're struggling you should reach out for help - there are organisations which can offer you free debt advice.