What is a Balance Transfer Credit Card? (EXPLAINED)

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What is a Balance Transfer & How Does It Work?

Do Balance Transfers Hurt Your Credit Score?

Credit Utilization:

Length of Credit History:

Balance Transfer Credit Cards With No Balance Transfer Fee:

How Long Does A Balance Transfer Take?

This video is all about balance transfer credit cards and how they work. We discuss the main things to consider when looking at a balance transfer card as well as some of the impacts it may have on your credit score and report. For instance, while the balance transfer credit card might help you to reduce your debt, it actually might negatively impact your credit early on because you’re opening a new account and there’s a new credit inquiry showing up. Even so, if used responsibly a balance transfer credit card can be a very smart way to consolidate credit card debt and take back your financial independence. What is a Balance Transfer Credit Card? (EXPLAINED).

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▮▮▮▮ TIMESTAMPS
• 0:00 - Intro
• 1:34 - Elements of a Balance Transfer Credit Card
• 1:44 - Introductory APR Period
• 4:21 - FAQs
• 8:02 - Credit Utilization Ratio
• 10:04 - Outro