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Does transferring credit card balances affect your credit score? |
Transferring balances
Transferring the balance doesn't usually affect credit. You actually will be better off doing this for those cards that were closed by the companies, because they will report on your credit as revoked and if you're not paying on the balance, they can still report as delinquent monthly, even if it's closed. So if you can transfer those especially, that is much better b/c the new company simply pays off that balance for you and you can start fresh.
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First answer by Jeff Madtson. Last edit by anonymous. Question popularity: 229 [recommend question]
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