Credit Card info.....

[CECE]

wondering if someone can help me......

I was thinking of opening another credit card & transfering my current balance from my Visa to a card with 0% APR


Now the question is....
#1. does that ruin my credit history?
#2. is it even worth it?

I don't exactly plan to be using either card at all after this, so I might end up canceling both or one once its all paid off


anyone have tips about it.....the only reason i have a card is for work, emergencies & to build credit

[J. Martin]

If you're just gonna pay it off, transfer it to the card with the 0.0 rate. That way you just pay it off, without incurring more interest.

[James Maxx]

If you get accepted for the card and transfer the balance it won't effect your credit history. Nothing wrong with transfering balances to save on interest.

To be super safe I would cancel my old card a couple of months after you transfer your balance. It doesn't look good when you keep opening up new cards. According to the credit bureaus...it looks like your in need of credit and the score suffers (by a little).

[CECE]

thats what i was figuring....but if it ruins my credit in some way, i don't want to mess with that.....i would like to buy a condo one day with out being screwed you know

[FAST]

the more cards themerrier it only helps your credit...

as long as you pay them off...

transfering is fine.....it shows thta oyu paid off that card..i di not think the credit report shows that you payed it off wiht another card but do not quote me on that

just makes them payments and your all good

[Gspot555]

You should keep two major credit cards open at all times. When I say major, I mean VISA,AMEX,MC,Discover, and Store cards dont count(GAP,MACY'S, etc...)

Use both so and pay off balances as soon as you can. Don't cancel, that inturn, can hurt your credit.

[fifi~dee]

wondering if someone can help me......

I was thinking of opening another credit card & transfering my current balance from my Visa to a card with 0% APR


Now the question is....
#1. does that ruin my credit history?
#2. is it even worth it?

I don't exactly plan to be using either card at all after this, so I might end up canceling both or one once its all paid off


anyone have tips about it.....the only reason i have a card is for work, emergencies & to build credit


It won't ruin your credit history as long as you don't apply for alot of different credit cards within a small period of time. If you are applying for credit and having your credit run and a regular basis your score will go down. Just make sure that when you apply for a credit card, it isn't a card that is way out of your league like Platinum or anything that says $100,000 credit limit. I know that Discover normally offers 0.00% interest rates for 6 months and their customer service is EXCELLENT.

Just be careful, when you transfer the balance over and your old credit card has a zero balance you don't go on a shopping spree.

[CECE]

If you get accepted for the card and transfer the balance it won't effect your credit history. Nothing wrong with transfering balances to save on interest.

To be super safe I would cancel my old card a couple of months after you transfer your balance. It doesn't look good when you keep opening up new cards. According to the credit bureaus...it looks like your in need of credit and the score suffers (by a little).

after being with a credit company for a while don't they usually lower your APR????

i was thinking of keeping the old card depending on my situation because eventually things will drop? or am I just clueless right now?

[J. Martin]

Transferring balances will not impede you from buying a condo. Go with the lower rate card, save money.

[fifi~dee]

thats what i was figuring....but if it ruins my credit in some way, i don't want to mess with that.....i would like to buy a condo one day with out being screwed you know


and if you are looking to buy a condo, you should order a copy of your credit report and review it just to be on the safe side.

This way if there is anything on there that needs to be cleaned up you can get that out of the way now and not when it's time to got through the process of buying property.

You are entitled to one free credit report every 6 months (or maybe it's a year) and it won't affect your score.

[CECE]

thanks guys!!

I'll just hide the 2 cards some where & pay them off

the one card was down to nothing up until Xmas & Vegas

[*~Eleni~*]

after being with a credit company for a while don't they usually lower your APR????

i was thinking of keeping the old card depending on my situation because eventually things will drop? or am I just clueless right now?


all you have to do is call them and tell them that yuo are thinking about cancelling with them because their apr is WAY too high. i promise you if you have been a good customer, and have good history, they will drop that apr down!
My friend and boss do it all the time, and the results are always in their favor.

They wont drop your APR unless you ASK for it.

[CECE]

the condo is just a long in my future dream.....but i have to start now in thinking & planning it

[CECE]

all you have to do is call them and tell them that yuo are thinking about cancelling with them because their apr is WAY too high. i promise you if you have been a good customer, and have good history, they will drop that apr down!
My friend and boss do it all the time, and the results are always in their favor.

They wont drop your APR unless you ASK for it.


very cool :applaud

[Gspot555]

Never cancel the card you had for a longer time. If you have been paying on time, it shows for a longer time...its always better. Length of credit history(especially good credit) is one of the most important factors in determining your credit score...

[RICKY]

Transferring occasionally is fine, but if you do it all the time its not good. Lenders look at it as you cant afford the payments and you are always transferring balances. Unfortunately lenders find a negative in anything that has to do with credit............Pay your shit on time, and never go over 50% of your limit. Once your credit is established, and perfect stick with an amex.........