We are thinking of taking advantage of Discovers promo on the It card that gives us 18 months no interest on balance transfers to consolidate about 8k from other cards with varying rates from 13.99 to 24.99 and pay it off before the interest kicks in (by the end of the year if we can so we can buy a new house).
My middle score is a 660 and we have about 5000 monthly gross income.
So my questions are:
How might this effect our credit in the short term?
Is this a good idea? I've heard it but never had to do it before.
Does anyone know their qualifications? No need for an unnecessary credit ding if I can't even get it.
