Can balance transfer help with my credit score?
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rikki
Apprentice
Joined: 04 May 2005
Posts: 2
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 Posted: 03/05/08 - 10:45 Post subject: |
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| Hello to you all. I have a problem with my credit score. It is quite low and I would like to get myself a mortgage. I am afraid that I won’t be able to get the best deal. I am thinking about transferring my credit card balance in order to decrease my debts. Can balance transfer help with my credit score? What do you think? |
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kristo
Apprentice
Joined: 11 Jul 2005
Posts: 11
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| Posted: 04/03/08 - 21:17 Post subject: |
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| Hello to you too. Well, you should definitely try to increase you credit score somehow. One of the ways is to pay your bills on time and try to get rid of your debts as soon as possible. So, transferring your balance certainly won’t hurt if you manage to pay off your credit card balance. On the other side, switching credit cards too often can affect your credit score in a negative way. So, try to stick with one credit card if possible. You may know that you have to pay attention to interest rates and transfer fees. So, see which card is the best for you. I hope you will manage to increase your score. Take care! |
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