Balance transfers allow credit cardholders to move a balance on one credit card to another. This process can be done upon request to your financial institution or credit card company. Some financial institutions may offer special promotional rates and terms for balance transfers. Credit cardholders may entertain the option of a balance transfer for numerous reasons. We've pulled together our top 10 reasons to transfer a credit card balance.

1.    Lower your monthly payment amount
With high-interest rate credit cards, your minimum payment may not feel mini. By transferring your balance, you can often make your payoff date with a lower payment in the process.

2.    Lower your interest rate
Burdened by a high-interest rate credit card? Often, they’re close to 25% or more! Reap the benefits of a balance transfer with a temporary lower interest rate instead.

3.    Reduce the stress of several monthly due dates
Multiple due dates are hard to keep track of and can quickly lead to late payment fees. Consolidating to one payment and due date is more simple and stress-free.

4.    No surprise fees
No surprise fees, and unlike most balance transfers, absolutely no transfer fee.

5.    Bank with a credit union and cut corporate ties
No one likes losing their money to corporate bankers several states away. Keep your money local and invested in your community.

6.    Know that your low rate is set for 12 full months
No surprise rate hikes, just a low rate, guaranteed for 12 entire months so you can focus on life, not debt.

7.    You can pay your debt down faster
With lower rates and a set schedule, you can pay down debt more quickly. Don’t let credit card companies drag your debt out for years and years. Pay it off the easy, straightforward way.

8.    Stay protected
Keep your purchases protected with purchase, return, and travel protections, free with your Members 1st credit card.

9.    No deferred interest
Unlike most other balance transfer offers, you won't be hit with deferred interest if you don't pay your balance off in full by the end of the term with Members 1st.

10.    Reflect on your credit card approach
This gives you the chance to hit refresh on your credit card spending. Now that you’re out from underneath those high rate cards, you can reset your budget and stay in control of your finances.