Friday, April 21, 2006
How a 0% Balance Transfer Affected My Credit Score
I'm going to post my credit score because I think it's very beneficial since a lot of people have the question, "How will opening ________ 0% credit card affect my credit rating?" So I'll share my results with you. My credit score: 762 The problem is that I don't know what my score was before opening the 0% credit card, so I don't know what effect it really had. Regardless, the effect could not have been that drastic. In March of 06, I opened my Chase credit card and did a balance transfer. I've done 4 of these in the past, and so I was sort of concerned my credit score was being impacted, but not really...mainly because I didn't have any large expenses in the near future, like a house. Fast forward to today, I got my credit score, and was pleasantly surprised at the score. So apparently, whatever the effect opening credit cards may have, it doesn't always have a drastic effect on your score. But since I don't know the real process behind the credit score, effects may vary, so don't say I didn't warn you. It'd be interesting to hear if anyone else saw the same thing? If you need more info on a 0% Balance Transfer, check out my previous post on it...
Posted by freedumb at 4/21/2006 08:05:00 AM