How do balance transfers affect credit rating?

Answer Transferring your credit card debt from a high-interest rate card to a low-interest rate card seems like a winning proposition. It can be, especially if you play your cards right.ProcessWhen you ma... Read More »

Top Q&A For: How do balance transfers affect credit rating

How do balance transfers affect your credit rating?

A balance transfer occurs when you transfer the debt you have accrued on one credit card to another credit card. A balance transfer does not directly affect your credit rating. The new credit accou... Read More »

Effect of Balance Transfers on Credit Score?

Balance transfers are one way to consolidate debt and lower interest payments. They can also affect several components that are used in determining your credit score. This score is an indication to... Read More »

Do balance transfers hurt your credit score?

On One Hand: Balance Transfers May Benefit Credit ScoresTransferring a balance from one credit card to another is usually a good decision. Credit rating agencies base your score on multiple factor... Read More »

Does ordering my credit score affect my credit rating?

Ordering your own credit score is considered a soft inquiry and will not harm your credit score. Soft inquires are generated when an individual checks their own credits or a business/lender they ha... Read More »