by 
The Curious Bag
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Transferring your credit card debt from a high-interest rate card to a low-interest rate card seems like a winning proposition. It can be, especially if you play your cards right.
Process
When you make any change to your credit usage, this can lower your credit rating. However, a balance transfer could prove to be a positive change in the end.
Inquiry
Transferring your balance from one card to another creates an inquiry, which could cause your rating to temporarily go down.
Benefit
If you are not taking on new debt, you are likely to have more available credit on the new card, which increases your credit score. When your cards are maxed out, your score is lowered.
Long Term
If the new card does have a lower interest rate, you might be able to pay it off faster than you would the higher-rate card. This will increase your credit score.
Strategy
Once you transfer your balance to a new card, your old card will have a zero balance. Do not use that card. This will put you in more debt and may hurt your credit score.
Source:
Experian.com: Transferring balances shouldn't hurt credit scores
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