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Credit card balance transfer to existing credit card
ayr2019
Posts: 3 Newbie
in Credit cards
Hello,
I have 3 credit cards, all of which had a 0% interest deal when I originally signed up.
The 0% interest on one of my credit cards is coming to an end and I therefore wish to do a balance transfer. One of my other credit cards has a deal that I can transfer a balance onto it, again at 0% interest.
My question is, will my credit score be affected if I transfer a balance from one credit card onto another credit card I already have? I’m not applying for a new credit card so there won’t be a new application to go onto my credit file and my overall credit limit won’t have changed, I’ll just be moving debt from one credit card to another that I already have.
Apologies if this question has already been asked; I did have a search through the threads but they seemed to be more for new credit card applications which definitely would affect my credit score.
Any advice is greatly appreciated!
I have 3 credit cards, all of which had a 0% interest deal when I originally signed up.
The 0% interest on one of my credit cards is coming to an end and I therefore wish to do a balance transfer. One of my other credit cards has a deal that I can transfer a balance onto it, again at 0% interest.
My question is, will my credit score be affected if I transfer a balance from one credit card onto another credit card I already have? I’m not applying for a new credit card so there won’t be a new application to go onto my credit file and my overall credit limit won’t have changed, I’ll just be moving debt from one credit card to another that I already have.
Apologies if this question has already been asked; I did have a search through the threads but they seemed to be more for new credit card applications which definitely would affect my credit score.
Any advice is greatly appreciated!
0
Comments
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Some of your credit scores will plummet, especially Experian, but that's not a problem, as they're not a measure of your credit worthiness and not seen by anyone but you.
Lenders will see that you have the same level of debt and that it's on a promotional rate.0 -
Hi, we move threads if we think they’ll get more help elsewhere (please read the forum rule) so this post/thread has been moved to another board. If you have any questions about this policy please email forumteam@moneysavingexpert.com.
I’ve moved your thread from the ‘I wanna’ board to the ‘Credit Cards’ board, where it is better suited.
Regards
Nile10 Dec 2007 - Led Zeppelin - I was there. :j [/COLOR]:cool2: I wear my 50 (gold/red/white) blood donations pin badge with pride. [/SIZE][/COLOR]Give blood, save a life. [/B]0 -
Thank you - I think I originally tried to post it in credit cards but it came up with something saying that page was for recommendations or something.0
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