In this article we discuss the epistemological status of the knowledge and understandings that a specific way of working with women's experiences—memory work—generates. This discussion is held in the light of the last decades' feminist debate on the risks and problems inherent in research taking women's experience as a point of departure. We put forward memory work as a fruitful method of working scientifically with experiences, especially when it comes to understanding deeply naturalized power structures such as gender, nation, and sexuality. We show how different interpretative modes and practices in memory work may help us locate ruptures and ambivalences in the already known, and open up for understandings and interpretations that take us beyond the discursively given. However, several epistemological as well as methodological issues need to be addressed in order for memory work to render possible new forms of understanding that reach beyond established discourses and concepts. To avoid the much‐debated risk of essentialism and reproduction of different power structures, we argue that a great deal of reflection is required when elaborating research techniques. It is thereby necessary to carefully design the different steps in the process of memory work. This article shows how different ways of handling methodological problems in memory work—concerning foremost the choice of theme for the memory project, the textual practices used when writing memory stories, and the modes of interpretation employed—are crucial for what kind of analysis is made possible. We also highlight the importance of displacing the research problem at a certain distance from the theme of the project. The concepts of transferring and dislocating the research problem are introduced as a means to elucidate how different types of displacement generate different research results.