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Posted in Auto Insurance
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Question By
gmzal

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I received a cc offer for 15%. I have two ccs with 23% IR. I want to pay off the 2 cards with high
pay off the 2 higher one's with the new card, assuming I will get it. How will this affect my credit score. Should i keep the two i have plus the newer one for lower rates and not pay off the higher ones?

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All you're doing is transferring the owing credit  balance(s). You're not paying the balances off. It's possible your score may increase if the new card increases your available credit balance. Whether you're paying 15% or 23%; that's still wasted money. Is there a charge for transferring your balances to the new card? Your goal is to pay the balance(s) off, only charge what you can pay off  monthly so you're not paying interest.

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