Can A Large Debt Transfer Hurt A Good Credit Rating?
Date: Tue, 10/17/2006 - 16:35
I have a good credit rating, near 800.
My girlfriend has a large debt on a credit card.
If I transfer her $9,400 credit card debt to one of my cards that is offering a 3.99% for 12 months how will that affect my excellent rating?
We would be making more than the minimum payments on the $9,400.
Could this hurt my credit rating by basically taking over her debt for her?
Thanks for your help.
My girlfriend has a large debt on a credit card.
If I transfer her $9,400 credit card debt to one of my cards that is offering a 3.99% for 12 months how will that affect my excellent rating?
We would be making more than the minimum payments on the $9,400.
Could this hurt my credit rating by basically taking over her debt for her?
Thanks for your help.
Yes, it will affect your credit considering that you will be pay
Yes, it will affect your credit considering that you will be paying only the minimums. Credit scores maximize when the accounts are paid in full within the due dates. Since you already have a good credit rating now, give a thought before doing this serious help for your girlfriend.
