But only if it is a good deal. How to use a balance transfer. So, I recently learned about balance transfers when I received an offer from my Aviator Red Barclay card. The terms were, 0% APR (annual percentage rate) for 14 months, with a 1% one-time transfer fee or $5 whichever is greater. Normally, I see these deals and throw them out because they are rip offs, usually with a 5% transfer fee and 22% APR. But I noticed that occasionally, a good offer comes through and I should start paying attention. I started calling all my credit card companies to see what this balance transfer is all about. …