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Bob2850

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New account versus transfer. Simulation
I know the Credit simulator is just the estimate but I'm a little confused. When I do the simulation it says they're opening a new account probably won't change my score but transfer my credit card balance to a new account to save on interest will drop is significantly. Which is more likely because I would rather not pay any interest without ruining my score. I also will be applying for new apartment soon so I'm not sure How that will play in with this. I would rather not drop my score 78 like it estimates and pay a higher deposit at the new place

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I wouldn't consider any scenario that the simulator gives you as accurate. Most places are going to use a version of FICO scores anyway, so the ones here are irrelevant to most of the real world. Opening a new card and doing a balance transfer will most likely ding your scores, unless of course you would get such a high credit line that it would really reduce your utilization (and this would only help if your utilization is really high now) and you have no idea of what your credit line would be, so that would be a gamble. I would guess that the apartment is more important to you at this point, so I would wait until the apartment is secured before thinking about doing this.

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