I have a second mortgage which charges about $50 a month in interest. I have a credit card i can transfer the balance to that will give my zero interest for two years. I have a credit rating of excellent and get offers like this all the time. What happens to my credit score if I change a debt from secured to unsecured?
Thanks for the reply. The amount of the transfer would be about 60% of the amount of the credit limit. Also, is there a link you can give me that shows guidelines like this that have to do with credit scoring?
utilization is 30% of the score but if you have a ton of other cards to pad utilization i would worry about saving yourself some money not so much about the score. credit has no memory of previous utilization so your score will go up once your utilization goes back down
