QUESTIONS AND ANSWERS

Get your FREE Experian credit report and score!*

CreditExpert Logo

  • Free Experian credit report*
  • Free Experian Credit Score*
  • Free email and text alerts
  • Identity Fraud Expenses Insurance**
  • Dedicated UK based call centre

Checking your Experian credit report will not lower your score!

If you are a Credit Expert customer you can contact the customer services team with any questions specific to your credit report.

Please log in to your account and go to the contact us page to contact the member support team.

* Monthly fee applies after trial, new customers only. You may cancel your trial anytime during the 30-day trial period without charge. Free trial period starts on registration – further ID verification may be required to access the full service which may take up to 5 days.

** As part of your CreditExpert membership, we provide Identity Fraud Expenses Insurance.

Explore our Help Centre

Our credit report centre is full of information on what 's in your credit report and how to improve your credit rating.

Find out how to protect yourself from identity fraud and what to do if you're a victim.

Does transferring a balance from one credit card to another affect your credit score?

 

Dear James,

 

If I transfer a balance from one credit card to another, will this affect my credit score?

 

 

Andrew, Byfleet

 

Dear Andrew,

Transferring a credit card balance from one card to another could certainly affect your credit rating, but whether the change would be positive or negative depends on a range of factors, including the timeframe you’re looking at. This is essentially because credit scoring takes account of a wide selection of variables. For example, if you applied for and obtained a new card to facilitate the balance transfer, you might see your credit rating take a temporary plunge because you’d taken on a new credit account. But that effect would be quite short lived. The longer-term effect of taking on a new account could strengthen your credit history, depending on what other information is available. Another aspect credit scoring will look at is your account utilisation – that is, how much of your available credit you are using each month on what we call your ‘revolving’ accounts. Revolving accounts are usually cards. This calculation applies to individual accounts and to your credit report overall. Low utilisation is generally rewarded through credit scoring. So, for example, if you shifted a balance of £1000 from a card with a credit limit of £2000 to another card with a £4000 credit limit, the utilisation rate for the account carrying a balance would switch from 50% to 25%, which could boost your credit score. The Experian Credit Score can give you some personal guidance on this, still available via a 30-day free trial of our CreditExpert service.

James Sign

  • © 2014 Experian. All rights reserved