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Balance Transfer Credit Cards 101: A Secret To Financial Freedom - NerdWalletA balance transfer involves moving the debt from one or more credit card accounts to a different credit card. This way, you can focus on what you still owe. Balance transfers allow you to move an unpaid balance from an existing high-interest credit card to a new card with a low or 0% interest rate. The principal. A balance transfer is a transaction in which you move debt from a high-interest credit card to a card with a lower interest rate, ideally one with a 0%.