Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Cards
Profile Image

Question By
mesandy505

0 Contributions
0 People Helped
credit line in relation to amount of balance transfer
I'm thinking of transferring my $3000 balance to another zero percent credit card, so that I can pay it off with no finance charges. I've been approved for one of these cards with a $3600 credit line. Will it hurt my credit score to transfer the $3000 & leave only $600 available?

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
6 Contributions
89 People Helped
Most Helpful Response

Maybe, maybe not

Helpful to 1 out of 1 people

The first card that you are transferring from will have a lower balance, so your total balance to limit ratio will go down. This will help you as long as you don't run up the balance on the old card again after you transfer it.

However, because you opening a new line of credit, which usually knocks your score a few points, you might not see the increase right away.

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.