A credit card balance transfer is where you move an existing credit card or loan balance to another credit card account. Usually, there is a fee to transfer a balance. Balance Transfer offers on credit cards typically feature a low introductory or promotional interest rate for a limited period of time. Importantly, these introductory or promotional rates are temporary. If the balance is not paid in full by the time the introductory rate ends, the unpaid promotional balance will accrue interest charges at the standard APR on the account.
If you transfer a balance, interest will be charged on your purchases unless you pay your entire balance (including any balance transfers) by the due date each month or you have a 0% promotional APR on purchases.