I see small businesses break their SEO with the wrong redirect all the time. Here is the difference.
301 = Permanent
Use when you permanently move a page. Google transfers most of the ranking power from the old URL to the new one. This is what you want 90% of the time.
302 = Temporary
Use for A/B testing or temporary promotions. Google does NOT transfer ranking power. The old URL stays indexed. Use carefully.
The Rule
If you are not sure, use a 301. It is safer.
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