Are you thinking about transferring your high interest credit card balance to a new balance transfer credit card? Do you know what that balance transfer could really cost you? Have you already transferred your balance too many times? Let’s take a look at these things and more with three balance transfer basics any cardholder should know about.

Here are three things you should know about balance transfer credit cards before deciding to move your balance.

1. Advertised balance transfer rates won’t last forever.

What makes balance transfer credit cards so attractive is the low interest offer you see advertised. The whole point of transferring a balance is to save money with a lower interest rate. But don’t assume that low rate will last until you pay off the balance.

They’re usually introductory rates that expire after a certain number of months. If you can’t pay off the balance in that amount of time, the rate will revert to a higher APR — such as the standard purchase rate for that card. In other words, plan to be able to pay off your balance during the introductory period if you want to maximize savings.

2. You might be charged a fee on top of any interest payments.

Interest charges aren’t the only cost to consider when deciding if you should transfer your credit card balance. You may also have to contend with a (not so heavily advertised) balance transfer fee. This might be a standard dollar amount or a percentage of the balance to be transferred. The fee can cut into any savings you expect, so make sure you account for it when making decisions about transferring balances.

3. Too many balance transfers can be a bad thing.

Some people decide that they can delay the inevitable by continually moving balances from one credit card to another. They get a balance transfer credit card and only pay the minimum monthly payments. They get low interest for awhile on that balance. When the introductory rate is about to expire, they apply for another balance transfer card with a very low interest rate. This strategy can backfire.

First, applying for too many credit cards in a short period (like the several months between balance transfer offers) can make you look like a bigger credit risk. Applications down the road might be declined, leaving you to pay whatever higher interest rate you’re then stuck with. Even worse is the fact that a tarnished history could stop you from getting other credit when you really want it (or at the rate you want), like a mortgage or car loan.

Before applying for any balance transfer credit card, it’s a good idea to have a debt repayment plan in place. Don’t plan to become a card-hopper. Make sure you can pay off your balance before the introductory rate expires. And don’t forget about fees that could alter your expectations. That is how you can get the most out of your next balance transfer.