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lukn4ahome

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Transferred credit card balances produced negative results. Why?
I transferred 4 credit card balances to 2 separate cards with 0% interest for more than 12 months which resulted in a decreased credit score. Why?

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Several reasons,  You had hard inquiries on your report to get the new cards, how many did you apply for?  Your average age of credit just took a drop, maybe a large one. And you now have two cards that I am guessing are maxed or close to max at 100% usage.

Many of these things will not have such an impact in a short while such as the inquiries, and as long as you can pay those cards off fast then your score should be back to normal and higher in a few months to a year.

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If you got the 0% cards just for the balance transfers, your score should have gone up because you would have had two additional cards with their credit limits added to the ones you already had UNLESS you closed the cards you transferred balances from.  That would mean you haven't read the information here to learn how to play the credit game correctly.  My score went up when I did a balance transfer.

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