Will transfering balances btn my credit cards hurt me?

I have 4 major credit cards, and i was wondering if I transfer balances btn them, when they offer deals on Balance transfers will it affect my credit score? I%26#039;m not opening any new cards, I%26#039;m merely taking advantage of promotion they offer on existing cards.

Will transfering balances btn my credit cards hurt me?child tax credit

No... simply transfering money between open accounts will not impact your credit score. If you opened a new account recently to transfer a balance, that could have a slightly negative impact since you%26#039;d have a new, open line of credit and another inquiry on your credit report. But this shouldn%26#039;t have a long-term effect...

Will transfering balances btn my credit cards hurt me? loan

No, it wont hurt you. Credit reports generally look at an overall utilization ratio, so keeping the same balance and the same overall limits wont do anything. (But remember they often charge 3% transfer fees!)

There might be a temporary change when one card reports the higher balance before the othe reports the payoff, but it will balance out after the other card catches up.|||no. That is what I did with one of my high balances. I transferred that balance to a low minimum due credit card, so I can save a few extra dollars.