Balance transfers affecting credit rating?

Mark300zx

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

YorkshireBoy

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.