Do balance transfers negatively affect your credit score/report?
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If you are opening new accounts each time you transfer balances to a 0% card it will affect your credit report and score! It’s best to have only a few major credit cards open and keep them for a long time, than have a long list of recently opened accounts. Lenders are more likely to view you as a responsible borrower if you have older accounts. Call your card companies and ask for lower rates on all your cards-they often do it, especially if you threaten to close out and move elsewhere.