Why did I stop getting balance transfer offers?

Most banks stopped offering balance transfers in 2020 because of the economic crisis triggered by the coronavirus outbreak. Balance transfer credit cards began to return to the market by 2021, and the 10 largest credit card companies all have 0% intro APR balance transfer offers now.

You can check out WalletHub’s editors’ picks for the best balance transfer credit cards to learn more about the leading offers currently on the market. But remember that just because balance transfers...

Balance transfer offers used to be more difficult to find or qualify for due to the pandemic. However, more balance transfer offers are just starting to come back.

Another reason it’s hard to find balance transfer offers is that some issuers or credit cards are geared towards other types of use. For example, they might focus on earning rewards or building credit. You can still, though, find some very good balance transfer credit cards.

Some...

Yes, balance transfers do hurt your credit when you open a new credit card account to do the transfer. Applying for a balance transfer credit card will generate a hard inquiry on your credit report, causing a slight dip in your credit score.

If you transfer a balance to an existing credit card account, however, there is no hard inquiry and no credit score damage. A balance transfer could still result in high credit utilization, though, and allow you...