Transfer

[Anonymous]

Want to verify, if I transfer CC balance from one card to another existing CC it will not effect credit score. Card it's being transferred to has higher credit limit. Overall utilization will not change

[Kree]

It might have small effects either positive or negative.  Utilization is scored both on total utilization and individual card utilization.

Scenario A.

Card a 800 used out of 1000

card b 0 used out of 1000.

After the transfer you still have 1 card at 0% one card at 80% and total cards at 40% This would be neither losing or gaining points.

Scenario B.

Card a 800 used out of 1000

Card b 0 used out of 2000

After transfer you would have 1 card at 0%, one card at 40% and total cards at 26%  this would give net points

Scenario C

Card a 800 used out of 2000

Card b 0 used out of 1000.

After transfer you would have 1 card at 0%, one card at 80% and total cards at 26%. This could lose some points due to the higher uti on an individual card reported.

Obviously real life situation is much more complicated. As you could have more than 2 cards, and you could have existing balances on both before transfering from 1 to the other.  But I hope this helps.

[RobertEG]

Overall % util wont change, but the % utils on the individual cards will.

Util of revolving credit is scored based on overall % util, the % util of each revolving account, and the % of revolving showing balances.

Thus, there will likely be some score change.

[Anonymous]

It does thanks. Current card has 8500 limit. Transferring to card with 11000 limit for zero interest. No balance on 11000 card. Nothing will be left on current card I'm transferring from. Assumimg in this situation if anything score would increase

[Anonymous]

What's the balance?

[codefreak13]

As long as the whole balance is being transferred, your score at worst would remain flat. Aggregate util remains static, and indivdiual util is guaranteed to drop if an entire balance is moved to a card with a higher limit. If that drop crosses a threshold you may gain some points.

[HeavenOhio]

There's a chance for a temporary score drop if one of these two things happens:

• The transferred balance reports on both cards on the same time, making it look your balances are twice what they actually are.
• The transferred balance reports on neither card, resulting in all of your cards reporting balances of zero.

If either of those things happen, the dust will settle as soon as your reports catch up. After that, if the balance transfer is the only change, your score should either remain flat or increase slightly.