Balance transfers themselves usually don’t affect a consumer’s credit score. However, applying for credit cards to pay off other credit cards could potentially affect your score if you apply for too many at the same time or apply for them too soon. This can be especially problematic if you’re applying for a credit card balance transfer for business with too many banks at the same time.
About 15% of your credit score is based on the length of time an account has been open. The longer it’s been open, the higher your score will be. Opening several accounts at the same time could knock down your average and hurt your score.