A balance transfer is a type of credit card transaction in which debt is moved from one account to another. For those paying down high-interest debt, such a move can save serious money on interest charges if done strategically. In this video, Credit Card Nerd, Sally French, walks through the steps of using a balance transfer card to help you decide if this strategy could make sense for your debt management plan. Suggested Resources: How to Transfer a Credit Card Balance in 3 Simple Steps: https://www.nerdwallet.com/article/credit-cards/simple-steps-to-transfer-credit-card-balance Compare Balance Transfer Credit Cards: https://www.nerdwallet.com/best/credit-cards/balance-transfer What Is a Balance Transfer, and Should I Do One?: https://www.nerdwallet.com/article/credit-cards/what-is-a-balance-transfer Some credit cards mentioned in this video may be NerdWallet partners, but that does not influence our opinions. The benefits, terms and fees mentioned were accurate at the time of posting, but things can change. Some offers may have expired by the time you’re watching. For the latest details, follow the links in the video description Chapters: 0:00- Intro 0:31- What is a balance transfer credit card? 0:41- Finding the right credit card 2:39- Starting a balance transfer 4:00- Common rules 4:20- Final thoughts #NerdWallet #CreditCardDebt #CreditCard Subscribe to NerdWallet - https://bit.ly/3wGvVf3 About NerdWallet: We’re NerdWallet. And we’re not your typical finance company. We believe that everyone should be able to make financial decisions with confidence. We’ve built a team of Nerds with the knowledge, passion, and skills to make that happen. Thanks to our Nerdy experts, see side-by-side comparisons and objective reviews of the best credit cards, bank accounts, and so much more — so you can get even more financial clarity. It’s the smartest decision for all your financial decisions. Disclaimer: This video is for informational and educational purposes only. NerdWallet does not offer advisory or brokerage services, nor does it recommend or advise investors to buy or sell particular stocks or securities. Any comments posted under NerdWallet's official account videos are not reviewed or endorsed by NerdWallet or representatives of financial institutions affiliated with the reviewed products unless explicitly stated otherwise. Avoid disclosing personal or sensitive information such as bank accounts or phone numbers. NerdWallet employees do not offer personalized financial advice and will not respond to posts here. Connect with NerdWallet: Follow NerdWallet on TikTok: / nerdwallet Follow NerdWallet on Instagram: / nerdwallet Follow NerdWallet on Twitter: / nerdwallet Follow NerdWallet on Facebook: / nerdwallet