card transfer /credit rating

Broke_Bry

:-/Hi,I want to transfer my balance to another card(virgin),my current card(natwest master)told me I should be aware that every time I transfer it affects my credit rating adversly,is this true and would it affect my credit rating or anybody living at my address?We are currently applying for a mortgage in my wifes name and wondered if we should wait to transfer both my cards over to cheaper cards until the mortgage goes thru in case we are knocked back on poor credit rating.Cheers ,Bry.

Robert_Sterling_3

I wonder if they tell people transfering in that it will affect their credit rating.

Systemaddict_2

I would of thought that doing bal trfs and then paying the money back would actually improve the credit rating.

I have done a lot of bal transfers and the cc co tend to increase my credit limits on a regular basis.

I think what you have been told by Nat West card rep may not be correct.

Robert_Sterling_3

I think what you have been told by Nat West card rep may not be correct.

Perhaps what the NatWest rep said was misinterpreted.  :)

Broke_Bry

apparently when you apply for a new card the over lap of new and old cards means that if you have say a borrowing limit of £2ooo on each card the total goes against you in credit borrowing terms ,even if you havnt borrowed that amount .