What is a Credit Card Balance Transfer? —– If you have a high balance on a store credit card with a 21% APR, for instance, you may be able to transfer that debt to a credit card with a lower rate, saving you money on interest—and possibly helping you pay down your debt faster. A credit card balance transfer can be a great way to save some money. There are also some other benefits that come with consolidating your debts into just one payment. SOURCE CITED