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Open a new credit card account to transfer balance?
My CS is 725, I just leased a car and I have about $3700 in credit card debt that I want to pay off ASAP. Would opening a new credit card with lower interest rate on balance transfers help or hurt my credit?
Asked by
adwagain75
7 months ago
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The hard inquiry will slightly hurt the score for a couple of months but it is no biggie. Do the calculatiosn absed on how much you plan to pay each month, and if you would pay the debt faster then do get the card. The hard inquiry will get less important in a few months and the decreased utlilization will be a big plus.
ladald 7 months ago