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pickles2015

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should I transfer balances to just one credit card?
how does that affect my credit score?

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I did that a couple of years ago. Had 3 cards that had low credit limits and high (almost 20%) interest rate and high usage.  Total owed was a bit over $3000. My credit union was offering a balance transfer card so I checked the Credit Simulator and it looked like doing the consolidation would be a "go" so I called my credit union.  They gave me a card that had a significantly lower interest rate. MUCH higher credit limit and was at 0% interest for a year.....and I was approved.  My credit score rose quite a bit and is now very good.  Yes, there is an inquiry on the credit report, but that is okay.  Try the Credit Simulator to see if it might be possible for you to benefit and, if it is, take the plunge.

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