will this damage my credit rating ?

choob82

Hi All

I'm new here, i hope this is ok for a 1st post!

If i have to make a credit card balance transfer by the end of my interest free period will this cause any significant damage to my credit rating? I'm about to have some fairly serious surgery so my payments could be a little lower for a few months as i work freelance, so I'm a little worried.

Its my 1st credit card and my credit rating was previously described as perfect.

Thank you

InsideInsurance

It'll change your history, temporarily at least, as you will have two lines of credit.

There is no such thing as a perfect rating on the basis that every company has different views on what they like to see. Some may like to see that you have more institutions trusting you as long as your easily able to service the debit if both lines were exhausted. Some may have harsher views on affordability and be less convinced of your ability to run both these accounts concurrently.

choob82

Thank you! Puts my mind at ease.