You should carefully calculate if you really will be saving after the fee, Hira says, and how many months it will take you to pay it off. A lot depends on how fast you can pay.

"You need to know why you're doing it and how it benefits you, and at what level you are willing to make that transaction," she says.

Ignorance is not bliss
Hira says she has done studies on people who borrow too much and who are always in financial trouble.

"The first item is ignorance," she explains.

Remember that the credit card company is going to look for ways to make the maximum amount of money off you.

"Both parties have to be getting something out of it," Hira says. "So don't think the new offer to you will be a bad deal for them."

Above all, don't fool yourself into thinking your loan has disappeared. At best, you've snared yourself some better terms.

When they won't budge
When you still want the transfer, but the issuer won't lower the fee, there is still hope.

You can play hardball and try to change other terms in exchange for a fee waiver.

"What you might do is offer to make the interest rate a little higher, but waive the balance transfer fee," Bilker says. "Just do the math to make sure you come out ahead."

This makes sense if you know you can pay off the balance shortly.

Another strategy to consider is writing a check to yourself. Sometimes with some issuers that's free, while a traditional card-to-card transfer is not. Either way, it pays to ask.

If you don't see that kind of offer, Bilker suggests yet another option to avoid a fee while lowering your interest rate, though it requires extreme care.

Transfer cash from one card to another credit card -- where you have a zero balance -- if you know there are no fees when transferring directly to another credit card, he suggests.

This maneuver will force the receiving bank to write you a check for the credit balance.

"I had a $1,000 credit balance," he recalls, "and they had to send it to me, so I avoided the fee completely."

As always, ask plenty of questions, and keep good records. With credit cards, those who pay attention to details -- and are willing to fight over them -- will come out ahead.