Will this lower my credit score?

Right now I have debts on two credit credit cards. One of them has a credit line of 6000 and I owe 1600 dollars,the APR is 10.5%. They are offering me a transfer rate of 3.5%. The other credit card has a credit line of 2500 and I owe 1200, the APR is 9.0%. I%26#039;ve been thinking of transfering the total balance from the second credit card to the first one to take advantage of the transfer rate. That means that if I do this I will have the total debt $2800 on one credit card. Will this lower my credit score? I have an excellent credit score 770

Will this lower my credit score?

No, it will not lower your credit score so long as your debt to income ratio does not change.

You have $8,500 in credit available to you and you%26#039;ve used $2,800 of it. So long as that doesn%26#039;t change, regardless of which creditors it%26#039;s with, your credit score won%26#039;t change.

Will this lower my credit score?

Only if you close that other card out, because that will lower your debt/credit line ratio. And since you will still be well under your credit limit on the other card, it will not ding your credit score much if anything.

I would think that we be a smart move, espeically since you already have a good credit history...

Will this lower my credit score?

no

Will this lower my credit score?

it shouldn%26#039;t have any effect. you still have the debt and as long as you are making your payments you should be fine.

Will this lower my credit score?

You should be fine as long as your debt to income ratio stays the same.

Will this lower my credit score?

No it will not lower your score. Just keep your debt to income ratio the same and you will be fine.

I did the same thing a couple of years ago and my score actually went up.