A balance transfer moves debt from one credit card to another, usually one offering a lower interest rate for a set period. People use them to reduce the cost of existing credit card balances and speed up payoff. This category covers how balance transfers work, when they make financial sense, and what to watch for so the strategy actually saves you money instead of creating new problems.
The articles here answer questions like: What fees come with a balance transfer and how do they affect your savings? How does the introductory rate period work, and what happens when it ends? Should you transfer multiple cards or just one? And how do you avoid the trap of running up new debt on the card you just cleared?