What's the real scoop on...

What's the real scoop on...

transfering those higher intrest cards to a smaller interest card (0%). I have read that it could hurt your credit score if you do this with cards that you have a 10 year history with. What about transfering higher interest or (APR) cards that you only have had for less than a year? Will this hurt your fico or credit score as well?

Can someone enlighten me on this subject? TIA

Re: What's the real scoop on...

Re: What's the real scoop on...

Also be sure to read the fine print. Alot of CC companys will charge you a 'transfer fee' to transfer a balance to the new card. It's usually a percentage of the whole amount being transfered. There are cards out there however, that don't charge this fee.

Re: What's the real scoop on...

Thanks girls.