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Balance transfers may initially lower credit scores but boost them long-term by reducing credit utilization.

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06 Aug 2026
Fool - Investing News
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Applying for a balance transfer credit card causes a small, temporary dip in your credit score due to a hard inquiry and reduced average account age. However, transferring balances to a card with a high credit limit lowers your overall credit utilization, which helps your score recover and improve over time as you pay down debt. The Citi® Diamond Preferred® Card offers one of the longest 0% intro APR periods for balance transfers (21 months), allowing users to pay down balances interest-free and potentially increase their credit score significantly. Keeping old cards open after transferring balances preserves credit limits and supports a better credit score.

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Citi Diamond Preferred offers 21 months 0% APR on balance transfers, ideal for paying down credit card debt.

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