Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Credit Scores
Profile Image

Question By
2generous

0 Contributions
0 People Helped
Will Balance Transfer application negatively affect my credit score?
I have two cards, using 25% total available credit on one; the other $0. I plan on keeping both open. It seems to me it would improve my score, as the total available credit would increase with additional credit from new card thus lowering my percentage of use, but I don't want to assume!

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
1884 Contributions
3672 People Helped

If you apply for a new account

It will for a short time.

Any time you apply for credit your score will drop because of the inquiry. If your utilization stays low it should bounce back pretty quick. 

Only apply for new credit when utilization is below 30% and your score is up. If you apply no more than once every 6 months you won't ever have to many inquiries  

Good luck. 

Result 1-1 of 1Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.