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Emily1214

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Questions about credit card transfer
I have 2 credit cards with companies that loan to people with not so great credit. Is it worth it to transfer the balance from these 2 cards to a more reputable company? Does the reputation of the company you have borrowed from make a difference when you are looking to borrow somewhere else?

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Reputation of a company does not factor into your credit score.  You can transfer the balance if it makes financial sense to do so.  In other words, would the new company offer a better interest rate?  What is the fee they charge to transfer the balance?  Is the transfer fee less than the interest  you would save by transferring?   If the numbers add up in your favor, then do the transfer.  Otherwise, stay with your current creditors and make all your payments on time.  That will help drive up your credit scores.

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