I have been routinely moving my credit card balances to cards that offer no interest on balance transfers. Are there any repercussions for this as far as my credit score is concerned?
I have been closing the old cards out when the transfers are complete. I am just wondering how this looks to the big three credit agencies.
There would be a small
There would be a small repricussion. You see, each time you apply for credit, it takes a few points of of your credit score. However, if you are only doing one card every 6 months to take advantage of the 6 months low or no interest rates than you should be fine as your ontime payments should equal out the points docked for the applications.
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