Does Opus Credit Cards Hurt Your Credit Score

ajaa

Hi,

I have an Opus credit card with a Balance Transfer for life of around 5% on it. This card was original my Shell Credit Card, who sold it to another company and who then sold it to Opus.

So the deal is great, but the normal APR is around 48% and I have heard that just holding one of these mega expensive cards is very bad for your credit score.

Can someone please advise if this is the case and I was thinking if this is true, then to transfer the full balance to another card on a balance transfer offer and then close this Account ASAP.

My Credit score is currently around 700 with Expirian and does anyone know roughly what the effect to my Credit Score could roughly be if I did what I was thinking as above and close my Opus Credit Card Account please?


Alan - London

[Deleted User]

The type of card has no impact on your credit file.

The credit score you are given is made up and can be ignored.

ajaa

My wife was told that this approach to your credit score for these types of mega expensive credit cards and this was by the financial adviser in NatWest Bank.

[Deleted User]

Another good reason not to use NatWest.

Lenders don't see the name or rates of other cards you have.

And you still have no credit score, simply a credit file.

DCFC79

Deleted_User wrote: »

The type of card has no impact on your credit file.

The credit score you are given is made up and can be ignored.

I will increase the score for a pack of ginger biscuits and 1 Garibaldi.