Credit Tips: Balance Transfer Affect On Credit Report

Posted On: December 1, 2005

Author: Rom
Posted: Thu Jul 01, 2004 8:07 am
Post subject: Balance Transfer Affect On Credit Report

7/23/2002 7:24 pm CDT

Do balance transfers adversely affect one’s credit report?

Author: mouse
Posted: Thu Jul 01, 2004 8:08 am
Post subject: Balance Transfer Affect On Credit Report

7/23/2002 9:37 pm CDT

NO, a credit report only states what is owed on a give day, NOT how it was done.

Author: jason
Posted: Thu Jul 01, 2004 8:09 am
Post subject: Balance Transfer Affect On Credit Report

7/24/2002 2:57 am CDT

Balance transfers are a great idea if you do not run up any more balances after transfer. Pay down the debt to get higher FICO!!!! The amount you owe which is charted by FICO score is probably biggest factor!! Less credit balances and more credit cards, not too many and proportion of balances under 20% of max credit limit will help greatly!!!