Balance Transfer
Moving debt to a new card, often at a low promotional rate.
A balance transfer moves debt from one credit card to another, usually to take advantage of a low or 0% promotional interest rate for a set period. Done deliberately, it can cut interest sharply while you repay. The risks: a transfer fee (often 3–5%), a rate that jumps after the promo ends, and the temptation to run the old card back up.