Do balance transfers affect credit rating?

hostie

Hello, I have just made a new credit card application and was told that it would take ten days for the company to let me know. I had also planned to transfer the debt that I have recently accrued on one of my cards (also by the same company to which I applied today) to another card. Although in the past I have paid off in full every month, I don't expect to be able to do that with this large amount this month so had hoped to switch it to another card on a better rate for a couple of months.
I am now worried that if I do that it will look like I am struggling financially and they wont give me the card I just applied for.

SO MY QUESTION IS:
Does anyone know if it affects your credit rating or the way companies view you when you switch money from their credit card to another credit card?

Thanks so much for your help.

Kind regards,

hostie

NickX

Transferring Debt from one card to another generally does not damage your Credit Rating.

However, I think you are going to have a problem because you say that the 2 cards are from the SAME provider, and generally transfers from cards within the same organisation are not permitted.

There may be a way round it - which are the cards in question ?

hostie

No, it is ok. I am transferring from one credit card to another with a totally different bank. I am APPLYING for a card with the credit card company that I am transferring from as the card that I am transferring from is pretty useless.

Thanks for your help.