If you carry a balance on your credit card, a balance transfer can be a great way to save hundreds on interest charges and give yourself the opportunity to pay down your balance. Many credit cards out there offer balance transfer promotions with 0% interest for 6-12 months, although there are some things you definitely need to know to use this strategy effectively.

Here is our complete guide with everything you need to know about balance transfers, updated for 2013!

Thinking about applying for the “Special Financing” on Apple.com? You may want to think twice, here’s why applying for the infamous Apple credit card may not be such a good idea.

For 2013, Apple offers two types of credit cards: the Barclaycard for financing purchases and the iTunes Rewards version that earns rather poor rewards. The Barclays Apple Credit Card is easy to qualify for and offers enticing financing options, such as 12 months no interest on an Apple purchase over $999 if paid in full within 12 months.

If you’re thinking about financing an expensive Apple product with this card, WATCH OUT for the fine print. This card is overall a bad choice to finance a large purchase and may end up costing you more than you think – let’s take a look at why this is.

If you finance an Apple laptop with the Barclaycard, you’re probably interested in taking advance of their no-interest financing.

For purchases under $999 you’ll receive 6 months of no interest if the balance is paid in full within 6 months, while a purchase over $999 qualifies for 12 months of no interest if paid in full within 12 months.

If that sounds like a great deal, consider what happens if you’re even a day late to pay off your balance in full before the promotion period ends. The interest is only deferred and will be added retroactively to your balance while new interest will continue to accrue.

As an example, say you buy a $2,000 laptop with your new Barclays card and receive no-interest for 12 months. When the 12 months is up you still have a balance of $200 remaining. Think you’ll only be paying interest on $200 from here on? Think again.

Interest will be automatically added to your account for the original $2,000 purchase for the past 12 months at a whopping 22.99%!

Your balance is now $660 and interest will continue to accrue until your balance is paid in full.

Now that the Discover it card has been out for a few months and the application is now available, is it time to make the switch? Let’s take a look at the pros and cons of switching to Discover it in 2013.

First, let’s look at the differences between the two cards. The new Discover IT card offers some new benefits, including the ability to pay your bill by midnight of the due date.

The Discover More and IT card are very similar and actually the same card, aside from a few perks & fee differences. Eventually, the IT card will replace the More card for good.

The few differences include the ability to pay your bill on your due date by midnight, not 5:00 PM, no penalty APR and your first late payment fee is waived. The IT card cannot be customized like the More card, so you’re stuck with the exclusive design.

Reader Question: I have an American Express, Discover, Citi, and Capital One credit card, and keeping track of them all is getting to be a problem. I know that there are a few apps that help manage your bills, and was wondering if you had any recommendations?

Great question! Also great timing because we have been working on a review for a service that just might help you. PageOnce is an innovative service that helps you keep track of everything from your cell phone minutes to your credit card accounts and bank balances, all from one place.

Along with their online version, you can also download an app for your Android or iPhone and manage all of your accounts at once, even paying bills directly through their service if you want. We found that Pageonce is currently the only account manager that lets you make transactions and payments directly with support for nearly any provider.

The Discover Cashback Bonus program (available to Discover it cardholders) is one of the most versatile rewards programs out there. Along with redeeming for cash, merchandise and gift cards, your rewards can go even further when you pay for online purchases with your Cashback bonus amount.

Let’s take a look at your options and examine which actually makes your cash go the farthest when redeeming your rewards.

Most rewards credit cards today come with a variety of redemption options, from gift cards and travel rewards to unique experiences and merchandise. Still, you usually get the most value when you trade in your points for gift cards.

Before you get ahead of yourself cashing in those rewards points or cash back, here are a few pointers to maximize the value.

Particularly around the holidays, you may find gift card rewards through your credit card go on sale at a deeply discounted rate. A $25 gift card to your favorite restaurant may normally go for 2,500 points but you may catch it on a limited time sale for only 2,000 points. If you earn 1 point per dollar on spending, that means the gift card only costs you $20, or 20% off!

These sales, or extra rewards, are usually offered on gift cards for retail partners of your credit card company and they’re not uncommon.

There’s no doubt about it; weddings are expensive. The average wedding costs between $18,000 and $28,000 and more couples are now chipping in or paying for the whole thing themselves rather than relying on the bride’s parents.

A survey in 2009 also found that 58% of engaged women planned to use their credit card to cover at least some of the expenses of the wedding. It’s never a good idea to go into credit card debt — even for your wedding! — although there are some smart ways to use your credit card to cover some wedding expenses.

The holiday season is a time for giving and sharing with family and friends, although it can be a financial burden to buy gifts for everyone that’s important to you.

Every year you face the same dilemma: What’s the ideal amount of money to spend on a gift that doesn’t seem cheap yet won’t break the bank?

Although the exact answer to this question depends on your financial situation, there are a few tricks you can use to make finding the perfect gift for everyone easier a bit less stressful!

Earlier this week, we reviewed the SmartyPig Cash Rewards Card. I was intrigued by the service and wanted to take a closer look at the SmartyPig online savings account which is essentially a way to earn cash back and an alternative to a cash back credit card.

Before you reach for your credit card to finance your next big purchase, why not save up for it instead? It is very rarely worth it to finance something with a credit card – simply because the interest you end up paying will cancel out any rewards you earn.

This is what makes SmartyPig interesting. Using an online savings account that also offers rewards is a great way to break the habit of financing with credit, and help you develop a better habit.. saving money.

The idea behind Smarty Pig was to make saving fun by creating your own short-term or long-term goals to help you bypass those high credit card interest charges.

Want to give your loved ones gifts they’ll appreciate this year without paying cash? Why not put those credit card rewards to use!

According to Capital One’s quarterly rewards survey, nearly 50% of rewards cardholders plan to use their points to buy gifts for the holidays. While most plan to get gift cards, 20% are planning to redeem their points for actual merchandise. Your points can really go far and help you get gifts for everyone on your list if you plan carefully.

So, what kind of gifts can you get with your card rewards? Here are some of our favorites.

Important Note: If you are looking to get the most value out of your points, we highly recommend redeeming them for gift cards. With gift cards, you are usually able to redeem your points and get an additional 5 – 20% bonus.

Also, while you’re doing your shopping this holiday season, don’t forget to check for special cash-back opportunities with your credit card and be sure to shop online through your card’s rewards portal, if available. If you shop through Discover’s shopping portal this month you can get up to 25% bonus cash back (5% cash back for shopping online as part of the rotating rewards categories and up to a 20% bonus with ShopDiscover!).