Does it look bad on my credit report if I transfer 3 Visa debts onto 3 different 0% cards?

I have transferred 2 Visa balances and placed them on 2 separate 0% cards. I have done this all in a period of a few months. I still have an outstanding balance that neither one of the above Visa%26#039;s would accept. Would it be OK if I make a balance transfer again for only $500.00 to a different credit card company also offering 0%? Would this look bad on my credit report?

Does it look bad on my credit report if I transfer 3 Visa debts onto 3 different 0% cards?

MikeRacer is correct. You are getting a lot of factors involved here, and it is hurting your credit.

1) Opening up new credit involves credit checks, which hurt your score.

2) You are increasing the amount of available credit. This sometimes will actually help your score, but getting too much will hurt you.

3) Getting additional lines of credit does help your score, but too many will hurt. It%26#039;s recommended you have 3-5 credit cards or sources of revolving credit.

Finally, (I%26#039;m not preaching...but I%26#039;ve seen this over and over)...you are making the same mistake many people make. You get another credit card to try and consolidate debts. Then you turn around and run up the charges on the now-empty credit cards. Trust me, if you don%26#039;t control your credit spending you better start looking for a good bankruptcy lawyer.

Over the past couple of years, this is same reason many people filed for BK. The banks are suckering people into consolidation loans or home equity loans, and consumers are not learning from their past mistakes on credit.

Does it look bad on my credit report if I transfer 3 Visa debts onto 3 different 0% cards?

it does show up on your report negatively, but if your other card has a high interest rate, then it might still be worth it to you to transfer.

Does it look bad on my credit report if I transfer 3 Visa debts onto 3 different 0% cards?

Too many transfers can look bad...but it%26#039;s the %26quot;request for credit reports%26quot; that will hurt your credit rating. Every time you request credit they pull your report and sometimes they will refuse credit because of too many inquiries.

Maybe just pay the minimum on the 0% for now and pay off the $500 as fast as possible. It really can%26#039;t be too much in interest.

++++++++++++++++++++++++++

Does it look bad on my credit report if I transfer 3 Visa debts onto 3 different 0% cards?

I%26#039;m not aware that that would hurt your credit, it may, but I can%26#039;t imagine it%26#039;s worth missing out on 0% interest. It%26#039;s probably worthwhile even if it is slightly negative.