@CreditCurious wrote:
It will probably hurt your credit score, but that really depends on how much you owe and the credit limits involved.
Scores are calculated both on overall UTI, as well as individual card UTI. Transferring debt from one card to another does not change the overall UTI, but on the individual cards, you will wind up with 4 cards with low/no balance, and 2 cards with high balances. If the 2 cards with high balances are at significant UTI, the negatives for these two may outweigh the positives for the other 4.
However, if this transfer is to take advantage of low or no interest balance transfers, which will let you pay down debt faster during the no interest phase, it may be worth doing.
This is on the money. The number of cards with balances won't hurt your scores much as long as the utilization rate is low compared to a few balances with high rates. After all banks want you to use the cards. Most users don't pay before the statement cuts so of course you will have a balance even if you pay in full every month.
