Balance Transfer Lowers credit score?

Does anyone know if balance transfers lower one%26#039;s credit score?? Please tell me thanks.

Balance Transfer Lowers credit score?

they dont lower it but improve it because if you open up one credit card account and transfer from 10 different credit cards then you have a higher credit score because of less banks that you owe money to

Balance Transfer Lowers credit score?

not sure I think it would to avoid someone transfering the balance of credit cards to another credit card...

Balance Transfer Lowers credit score?

the application of the card you would transfer it to would.... like if you applied for a card that had a lower apr, then wanted to transfer to it, yes the hit by them checking your credit would lower your score slightly... not the actual balance transfer though.

Balance Transfer Lowers credit score?

The answer to your question is yes. The question is, is this a 0% for a specified term? And once you transfer the balances, are you going to run up the tabs on those paid off accounts. Debt ratio is a key factor in determining credit scores. Leave long established accounts open and close the ones with less longevity. Scores are also calculated on potential debt.