This is a two part question. Fist off, I want to know if reporting agencies view balance transfers generally as bad or good (not that I would do this, but say if I transferred the balance of one card to another card that has the same stipulations as the 1st one resulting in an identical balance and utilization, would I be likely to see an effect on my scores either positive or negative merely because I had done the balance transfer). The 2nd question is what do you think the likely effect on my scores would be if I transferred the entire $2047 balance of a 80% percent utilized card to a card that currently has a $0 balance but would have be 40% utilized as a result of the transfer.
I'm considering doing this in the hopes that the the agencies will view me more favorably, and also because the card that I'd transfer the balance to has a 0% apr through December for balance transfers ($61.47 transfer fee for those who are wondering)as opposed to a 25% apr on the other card. Any thoughts?
