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rkbullock

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Should I transfer balances from credit card to another existing credit card with lower interest.
I have several credit cards with balances below $1000 but have several payment per month. Should I transfer those balances to another existing credit card with a lower interest rate. My concern is the utilization rate on the card I would be transferring to.

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You have to decide for yourself, is the benefit of paying down/off your debt quicker with lower interest rate, out weights the cost of 20 pts (my guess only)... If you still isn't sure? Ask yourself, are you going to apply for credit cards/loans before you pay down the balance, If not? Then your score don't matter much, if any at all. Your score will recover whenever you pay down the balance.

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