What is a Balance Transfer Credit Card? (EXPLAINED)

➡ Best Balance Transfer Credit Cards - https://www.creditcards.com/balance-transfer/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4
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▮▮▮▮ MORE INFO
What is a Balance Transfer & How Does It Work?
https://www.creditcards.com/credit-card-news/help/9-things-you-should-know-about-balance-transfers-6000/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

Do Balance Transfers Hurt Your Credit Score?
https://www.creditcards.com/credit-card-news/how-balance-transfer-card-affects-credit-scores/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

Credit Utilization:
https://www.creditcards.com/credit-card-news/credit-utilization-30-percent-rule-myth-1586/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

Length of Credit History:
https://www.creditcards.com/credit-card-news/length-credit-history-fico-score/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

Balance Transfer Credit Cards With No Balance Transfer Fee:
https://www.creditcards.com/credit-card-news/no-fee-balance-transfer-cards-better-deal/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

How Long Does A Balance Transfer Take?
https://www.creditcards.com/credit-card-news/how-long-does-a-balance-transfer-take/?utm_source=youtube&utm_medium=video&utm_campaign=explainer&utm_content=zTzRMzAXqb4

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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At CreditCards.com, we create honest, accurate, and objective content to help you make more informed decisions. To support our work, we are paid for providing advertising services. The compensation we receive and other factors may impact what ads and links appear on this page, and how, where, and in what order ads and links appear. While we strive to provide a wide range of offers, this page does not include information about every product or service that may be available to you. And your actual offer terms from an advertiser may be different (e.g., subject to additional terms) than the offer terms on this page. All information is presented without any warranty or guarantee to you. For more information, please see our website. The editorial content on this video is based solely on the objective assessment of our writers and is not driven by advertising dollars. It has not been provided or commissioned by the credit card issuers.


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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