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Used balance transfer offers to put amounts I was paying at a much higher rate
I had over 3K on my Discover card with an interest rate of 23.99% and 1K on my Capital One account at 17.99%. Discover offered me 0% interest for 18 months on a balance transfer. I took the offer to put the 1K I had on Capital One. I was then offered another balance transfer rate at 0%interest from Chase Bank. I had $1,400 of the 3K balance from Discover transferred onto the Chase card. Prior to these transactions my credit score was 700. I wanted all of the transactions to take place before checking on my credit score. When all transactions were completed my credit score had dropped down to 634! Does anyone know why this happened? By doing this it made my utilization amount on each card lower as well as being beneficial for me; however, obviously the credit bureaus aren't interested in what we do to help ourselves to save money but scores seem to be higher when high balances are on high interest cards utilizing a small amount of the available amount but using many cards to do this. Am I wrong? I am hoping to hear that I am and my score will get better, anyone that knows the answer to this I would greatly appreciate your advice.

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It should bounce back

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opening any new line of credit will drop your score. They want to see how you manage it. your score should go back up after a few payments have been made.

Make the biggest payments you can on that Discover to pay it off. Then pay down any other cards with an interest rate on it. Remember 0% interest is only good if you pay it off. over 1/3 of transfer balances are not paid off on time and you may end up owing interest on all of that transfer if you don't pay it off.

Personally, I never pay interest. I only make small purchses on any card with an interest rate on it is paid off 100% when the bill comes in. Big purchases are made on the 0% card. I only carry a balance on 0% interst cards. Only when my promo rate is about to expire Will I apply for a new card.

Also remember to keep your utilization below 20%, That will raise your score even more.

Good luck

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