moving credit cards around? How is this looked upon?

rover25

Does this be looked upon unfavourably by lenders. Does it affect your credit rating/scoring?

sarahs999

Do you mean balance transferring? Or paying one credit card's monthly bill with another?

rover25

I mean transferring the balance to a 0%. In June time I transferred to a 6 mth free balance. I now want to pay for my honeymoon on credit card and pay it off over 3 mths. I need a new 0% rate for purchases so had intended on transferring balance to another 0% purchase/balance card. Think Halifax do one at 10 mths 0% balance and purchase. My balance is £500 at the moment.

sarahs999

As far as I know it doesn't affect your credit rate, but don't take my word for it. I'm sure someone else has more knowledge than me on this. All I know is that I've been tarting to 0% cards for years and years now (at least five) and it's never affected my credit score.

NickX

OK, I have been transferring debts between 0% cards and stoozing for 10 years now and my opinion is that long term it enhances your Credit Rating.

Initially if you apply for loads of cards at once then your rating may take a hit, but over time you are proving yourself to be a good debtor. You basically borrow the money, stick to the Terms and Conditions, then pay it back with no hassle. Then you do it again, and again, and again.

This proves that you can manage debt well and I think it will help your Credit Rating. Also, as time goes on, the Credit Limits that are obtainable become more and more attractive.