Balance Transfer to an existing card

Nimmi

Dear all,

Firstly, apologies if a similar question has already been asked.

I have two existing credit cards. My Barclays credit card has remained clear for a long time and they have offered me a 0% balance transfer deal. My nationwide credit card has approx £2k on it and I would like to transfer it over to the Barclays and clear it as the 0% deal is due to finish (I took out this card 36 months ago).

I have a very good credit rating (935 experien) and I do not wish for this to go down because of the balance transfer. My question is, because the transfer is between two existing cards and I will not be taking out a new credit card, will this transfer affect my credit score?

YorkshireBoy

Possibly, in the short term...depending on how long each provider takes to update the CRAs.

No, in the medium to long term...for the reason you've already realised.

By the way, I may as well be the first (others will follow!) to tell you that your Experian credit score/rating should be ignored. No-one else (but you and Experian) will ever see the number "935" or the words "very good". So if you're paying for it, do yourself a favour and stop doing so!

Nimmi

Thank you , and thankfully I'm not paying for experien as my Barclays credit card App gives it for free. Thank you for your reply and advice to my question.