Does asking existing credit card to give 0% balance transfers affect credit score?

stutakesphotos

I've got two cards: Tesco which I pay the full amount each month and Barclaycard which I have just over £1,000 on and am paying the minimum amount on. If I asked Tesco if I could switch the barclaycard balance to them for 0% for 12 months, would it affect my credit score?

I have a good credit score but need either a loan or further credit card to buy a car. I currently have a work lease car which costs £175 a month but this ends soon. So will have that amount to put towards either a loan or paying a credit card.

The_Boss

stutakesphotos wrote: »

I have a good credit score but need either a loan or further credit card to buy a car. .

How do you know you have a good credit score when you do not know how different lenders will score you?

Asking for an offer will not affect your credit profile.

thenudeone

Asking for a 0% offer is not recorded and will not affect any credit decision by any other bank.

stutakesphotos

The_Boss wrote: »

How do you know you have a good credit score when you do not know how different lenders will score you?

Going by an online credit check as recommended on this site

The_Boss

stutakesphotos wrote: »

Going by an online credit check as recommended on this site

What online credit check was that?

stutakesphotos

The_Boss wrote: »

What online credit check was that?

Equifax is the company

The_Boss

stutakesphotos wrote: »

Equifax is the company

Oh dear. This 'score' means nothing - might as well be a random number. I can promise that this site would not recommend scores from Equifax or Experian. They are a total waste of money.

The important credit scoring is done by lenders, who use data from your application not held by Equifax or Experian (e.g. employment details, salary etc).

stutakesphotos

The_Boss wrote: »

Oh dear. This 'score' means nothing - might as well be a random number. I can promise that this site would not recommend scores from Equifax or Experian. They are a total waste of money.

The important credit scoring is done by lenders, who use data from your application not held by Equifax or Experian (e.g. employment details, salary etc).

Then why does this site recommend using them?

jo-bo

You have misunderstood The Boss, use the credit ref to check that your information is correct and upto date but take the 'score' they give you with a pinch of salt. My 'score' is high as my payments are upto date yet I cannot get anymore new deals as I have in excess of £100k in credit accounts!!

The_Boss

That's exactly it. The site recommends checking what information is held so you can maintain it as necessary. It does not recommend paying for the scores as they are a waste.