Balance transfers?????

susi

Hi, having taken advice from here and transferred my CC balance (which the 0% expires in July) can I keep transferring to other cards until the balance is paid off, if I do this does it in any way affect my credit rating, or look bad on me for future transactions??????

grumbler

REVENGE! Make Free Cash from Credit Cards article => STEP 4: Keep it up :

Will it hit your credit score?
Most lenders' scoring systems aren’t sophisticated enough to detect that you’re playing this free cash gain. Yet multiple applications especially at the same time, and high outstanding debts, even at 0%, will diminish your ability to get competitive credit, so the most important thing is to spread card applications out

Though it doesn’t work this way, a good way to think of it is that you won’t have problems until 10 cards or so, but there are no guarantees (read Credit Scoring article). The highest amount at 0% I’ve ever heard of was £80,000 – netting that stoozer nearly £5,000 a year as the money was off-set in his mortgage.