Apply for a new card or not

johnnycsg

Hello,
I have been building my credit rating up and just managing my debt a whole lot better over the last 12 months, I have several credit cards which I pay interest on.
I am now being offered balance transfer cards, albeit with initial small limits, but I'm worried if applying for a "new card" will affect the work I have done over the last 12 months it bettering my debt a credit score...... should I apply and move debti from another card, or just sit tight and let the credit score keep building, while paying interest
thanks in advance

[Deleted User]

Your credit score isn't real and not a factor in lending, so don't be concerned about it.

If you can pay less interest via a BT, then do so.

Your score will drop, but lenders will view you as lower risk, as well as saving money.

[Deleted User]

I have a decent whack on BT cards - about 6500, which I am paying down on the interest free deals - precisely because I have a good credit history that has allowed me to do this to save money rather than paying in full each time. My "score" goes up and down and I had no problem getting a new BT card with my bank with a limit of about £6k. If you can get a BT card to save interest, just apply and see what happens, worst case you are no worse off and can try again in say 6 months

johnnycsg

Deleted_User said:

Your credit score isn't real and not a factor in lending, so don't be concerned about it.

If you can pay less interest via a BT, then do so.

Your score will drop, but lenders will view you as lower risk, as well as saving money.

Thanks for your reply, appreciated 
What do you mean "credit score isnt  real"? 

[Deleted User]

Every lender assesses you against their own criteria.  The credit scores the CRAs show you are just gimmicks to keep you interested.  

You don't need to worry about what number they give you. Just manage your credit responsibly.

maxximus75

Save yourself the money in interest and ignore the made up score.  It's your financial history that counts!