Moving debt from one credit card to another, typically to take advantage of a lower interest rate or promotional offer. Balance transfers can be a smart tool for consolidating debt or buying yourself time with a 0% intro rate. However, they're not magic—you're still dealing with the same debt, just in a different location. Watch out for transfer fees (usually 3-5% of the amount transferred) and make sure you have a payoff plan before that promotional rate expires.