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Balance Transfers

clairbear1000 Posts: 127 Forumite

5 March 2011 at 7:31PM in Credit cards

Hi,

Just a quick question, my credit rating isn't very good, I'm paying off my cards and working at getting more and more green ticks.

I have several (3) credit cards, that I've paid off that I haven't cancelled because i thought it would be better to get a green tick each month rather than it be settled with only 16 months of up to date payments. First question? Is this the right way to think?

Second question, 2 of these cards have offered me balance transfer deals, 0% and a 6.9%, these are both significantly better rates than what I have on any cards, the only thing is, although both these cards are paid off the credit limits are low. Is it better to take these offers, even though the savings are minimal, does it show i am managing my money better by taking offers, meaning as I pay down more on my overall balances my rating improves? Or is it impossible to say?

Either way, thanks for reading the waffle.

CB

This discussion has been closed.

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