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Personal Finance and Investing

3Hotdogs

(14,983 posts)

4. Credit card to credit card MAY affect the score for a couple of weeks until the balances are reported.

Reply to Beartracks (Original post)

Tue Dec 16, 2025, 08:03 AM

Dec 16

Using a balance transfer to pay off an unsecured loan will decrease your score.

The danger of a balance transfer is the temptation to resume charging on the old card(s).

Of even more concern, that you are asking about credit score, indicates you are interested in more borrowing.... maybe for a car, lots of smaller purchases, house, whatever....

As Dave Ramsey points out, if you have to put it on the card, or take out a loan for it, "YOU CAN'T AFFORD IT." I am "not without sin." I will be debt free in June of '27. It took me 1 1/2 years to get to the point where I am on the road to having no debt. House was paid off in August. Car, three weeks ago.

Now, I am focusing on the lower interest personal loans that I took out to pay off higher interest credit cards. So I do not discourage you from taking out the "0" loans. Just be careful and plan ahead.

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New question: Credit score and credit card usage ratio [View all] Beartracks Dec 16 OP

I have a very high credit score. multigraincracker Dec 16 #1

good for you. however, zero effort toward any attempt in answering stopdiggin Dec 16 #3

Bankrate.com has a calculator which may help markodochartaigh Dec 16 #2

Thanks a lot for the link! Just used calculator- very handy. tazcat Dec 16 #7

Credit card to credit card MAY affect the score for a couple of weeks until the balances are reported. 3Hotdogs Dec 16 #4

As Dave Ramsey points out, if you have to put it on the card, or take out a loan for it, "YOU CAN'T AFFORD IT." Happy Hoosier Dec 16 #6

I see nothing wrong with the Ramsey plan. It is one of two --- pay high interest first or lowest balance first. 3Hotdogs Dec 16 #8

Dave Ramsey has a monetary worth of around $200 million. markodochartaigh Dec 16 #10

You're right, there. 3Hotdogs Dec 16 #11

Further thought, most of the people contacting Ramsey are in money trouble. They are stressed out. He gives them 3Hotdogs Dec 16 #9

It varies by bureau a bit, but... Happy Hoosier Dec 16 #5

Your last sentence is what I'm thinking. But... Beartracks Dec 16 #12

No big purchases waiting in the wings. Beartracks Dec 16 #13

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