There are many credit card issuing companies which allow their card holders to transfer the credit card balances to other credit card accounts. These cards allow the card holders to transfer the amount for free and after the money is owed to a different company they also give a grace period and they also charge less than the transferred balance. This is a good method to reduce the credit card debt that one has. One can avoid interest charges this way by paying the balance on one card. One should ensure that the old account is closed once they transfer the balance to a new one.