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Balance transfers affecting credit rating?
Mark300zx
Posts: 194 Forumite
in Credit cards
Hi,
Scuse my first noobie post?
I would like to go for a cheap balance transfer as I have about 10k on a card!
The only thing is I want to get a new mortgage soon and I vaguely remember something about applying for these offers affects your credit rating, is this correct?
All the Best,
Mark
Scuse my first noobie post?
I would like to go for a cheap balance transfer as I have about 10k on a card!
The only thing is I want to get a new mortgage soon and I vaguely remember something about applying for these offers affects your credit rating, is this correct?
All the Best,
Mark
0
Comments
-
Credit searches, or more accurately lots of them, can affect your credit rating temporarily. Recent searches, ie 3-6 months, will have more impact than older searches.
In my experience though, mortgage lenders are more concerned with 'used' credit, ie debt, than they are with 'available' credit or a reasonable number of credit searches.0
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