New Delhi, Sept. 26 -- A credit card balance transfer provides cardholders with an opportunity to consolidate their debt and save on interest. Still, its impact on one's credit score depends on how the entire process is managed.

Before proceeding with a credit card balance transfer, cardholders need to use their credit cards responsibly. Never overextend your credit limit, and try to keep your overall debt level in proper order. Your credit utilisation ratio is the key metric in this regard.

A balance transfer permits credit card users to move their outstanding balances from one credit card to another. This is done primarily with the intention of benefiting from a lower or zero-interest offer for a limited amount of time. Further, this ...