A balance transfer credit card is a type of credit card that allows you to move existing debt from one or more credit cards to a new card. This can help you consolidate your debt and potentially save on interest payments, especially if the new card offers a low or 0% introductory interest rate for a set period. When using a balance transfer credit card, it's important to consider any fees associated with the transfer and the terms of the promotional rate. After the introductory period ends, the interest rate may increase, so it's wise to pay off the balance before that happens to avoid higher costs.