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geodoe

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I got a new credit card is it better to transfer balance from a old card or just pay old card off?
I want to improve my credit score

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If your new credit card has a 0% introductory interest rate it will be a good idea to transfer the balance from your old card to your new card so you don't have to pay the montthly interest from the balance on your old card.

But please be sure to read the new cards policy on balance transfers beacuse they normally charge you a one time 3% to 4% interest on the balance you are transfering onto the new card. Hope that helps

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The action of balance transfer itself have no influence on your scores. The indirect impact on your scores from BT would be from the changes of utilizations, say if you have 3k balance on 5k limit old card, you transfer them to the new card with 10k limit? You reduce the utilizations from 60% to 30%, your score will be bump up,  opposite would hold true, if you transfer the entire 3k from 5k limit card to the new card that only have 4K limit? Your score would take a hit, cuz the utilizations went from 60 to 75%.

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