While saving money with a 0 APR balance transfer credit card is one of the easiest ways to cut down on monthly bills, making a costly balance transfer mistake is also very easy. Here are a few quick tips to help you maximize the money you save when transferring balances online.

1.) If you are transferring balances from more than one credit card, take advantage of a no fee balance transfer offer. Most credit card companies charge a balance transfer fee of 3% up to $75 dollars for each balance transferred. (Some credit cards have even taken the consumer un-friendly approach of putting no maximum fee on balance transfers.) However, you can avoid these altogether by applying for a no fee balance transfer credit card.

Applying for a no fee balance transfer card provide a great deal of savings if you are transferring balances from multiple cards. For example, if you transfer $3000 from one credit card, $2000 from another card, and $1500 from a third card, you’ll end up paying $180 in balance transfer fees. With a no fee balance transfer offer, all that money stays in your hands.

2.) Don’t run up new bills on your old credit cards. If you know you will be spending more money on your credit cards, you may want to apply for a credit card that offers a 0 APR on purchases as well as balance transfers. This will allow you to avoid paying interest on all of your credit card balances for a full year.

3.) Don’t rush to pay off your 0% balance. Take advantage of the 1 year interest free grace period by putting some extra cash in a high yielding savings account. At the end of the 0% period, use that money, plus the interest it has earned, to repay your credit card bill.

For more information on 0% APR no fee balance transfer credit cards, you can review current offers on Smart Balance Transfers and apply online for approval.