Before you can decide if a balance transfer credit card is the best kind of credit card for you, it’s important to take some time to look at the benefits they offer. Then compare them to the benefits offered by other types of credit cards that might not offer special balance transfer rates. When you do that, you can compare the benefits with your own goals and truly find the type of credit card that’s right for you.

Here are some of the primary benefits of balance transfer credit cards to get you started:

1. Balance transfer credit cards let you save money on existing balances.

The whole point of offering a special balance transfer rate from the perspective of a credit card company is to have you transfer existing debt to them. That means your current debt falls under their rules, and you pay them interest instead of your old credit card company (even if it’s a 0% balance transfer offer, chances are good that many taking advantage of it will pay interest once that introductory period expires).

While balance transfers work well for credit card companies, they also work well for you. A balance transfer credit card gives you a chance to get a lower interest rate on existing debt so more of your payments apply to the principal balance. That helps you pay down your debt faster while saving money.

2. Balance transfer credit cards can be combined with other offers.

Balance transfer credit cards are great because they’re not an exclusive group (like rewards cards where you have to choose either rewards or no rewards). You can have it all with balance transfer cards. That’s because any type of credit card can also be a balance transfer card.

That means you can focus on choosing a credit card with long-term value in mind, and still enjoy the immediate benefits of a great balance transfer rate to pay down existing debt. For example, you can get a balance transfer offer on a low interest credit card like the Citibank Clear Platinum credit card and you can get a special balance transfer rate on a rewards card like the Suncorp Platinum Rewards credit card.

3. Balance transfer credit cards can help you get credit card debt under control.

Balance transfer cards can do more to help you get out of debt than just lower your interest payments. They can also help you get spending under control. That’s because a balance transfer will usually void any interest free day period on new purchases (which rely on the entire balance being paid in full, including balance transfers). With that in mind, it’s possible you’ll feel less inclined to overspend when you can’t justify it as interest-free purchasing.

Remember that each balance transfer credit card will have different terms. Some offer special rates for only a few months, while others offer them for the lifetime of your balance transfer. Review the terms carefully before applying, and look for a card with a balance transfer offer period that’s long enough to actually let you pay down the debt at a discount.