https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553296#M427131 <P>I have a few cards with balances on them. My new BoA card has zero interest for a while so I am thinking of transfering all my balances over to it and leaving my other cards all with a zero balance. It will still keep my BoA card below 50% utilization. Credit score wise is this a good decision?</P> Thu, 23 Aug 2012 00:32:23 GMT KeithW 2012-08-23T00:32:23Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553296#M427131 <P>I have a few cards with balances on them. My new BoA card has zero interest for a while so I am thinking of transfering all my balances over to it and leaving my other cards all with a zero balance. It will still keep my BoA card below 50% utilization. Credit score wise is this a good decision?</P> Thu, 23 Aug 2012 00:32:23 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553296#M427131 KeithW 2012-08-23T00:32:23Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553302#M427134 <P>Is the balance transfer APR 0% as well? Sometimes they're different. Also, is it gonna take you long enough to pay off the balances that your interest charges would be more than your BT fee?&nbsp;</P><P>&nbsp;</P><P>If you're not going to be able to pay it off for a while and the interest you would pay is more than your BT fee, than it's definitely an option. FICO-wise it would lower your "Cards reporting a balance" to 1 which would pop your score up a little AFAIK.&nbsp;</P> Thu, 23 Aug 2012 00:38:14 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553302#M427134 jsucool76 2012-08-23T00:38:14Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553400#M427157 <P>I will have to check on the transfer interest rate, but I am almost certain that it is 0%.</P> Thu, 23 Aug 2012 01:46:59 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553400#M427157 KeithW 2012-08-23T01:46:59Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553406#M427160 <P>What's the bt fee?</P> Thu, 23 Aug 2012 01:48:32 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553406#M427160 Anonymous 2012-08-23T01:48:32Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553416#M427164 <P>I think <SPAN>jsucool76 is correct.&nbsp; At least in my case those "little" balances on 4 accounts when combined, created a larger single balance owed and tanked my score by 24 points.</SPAN></P><P>&nbsp;</P> Thu, 23 Aug 2012 01:52:03 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1553416#M427164 Scuba 2012-08-23T01:52:03Z https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1554072#M427358 <BLOCKQUOTE><HR /><a href="https://ficoforums.myfico.com/t5/user/viewprofilepage/user-id/529716">@jsucool76</a> wrote:<BR /><P>Is the balance transfer APR 0% as well? Sometimes they're different. Also, is it gonna take you long enough to pay off the balances that your interest charges would be more than your BT fee?&nbsp;</P><P>&nbsp;</P><P>If you're not going to be able to pay it off for a while and the interest you would pay is more than your BT fee, than it's definitely an option. FICO-wise it would lower your "Cards reporting a balance" to 1 which would pop your score up a little AFAIK.&nbsp;</P><HR /></BLOCKQUOTE><P>+1</P> Thu, 23 Aug 2012 15:42:40 GMT https://ficoforums.myfico.com/t5/Credit-Cards/Balance-Transfers/m-p/1554072#M427358 Anonymous 2012-08-23T15:42:40Z