Credit rating

[fideldyfee]

Hi there.

I got into a bit of debt a couple of years ago (damn store cards!) and have managed to get it down a bit now. I've just been transferring the balance onto interest free credit cards. Im now going on to my fourth card and should get it cleared within the next 9months. My question is...Does this give me a bad credit rating? I always pay at least the minimum payment every month.

Thanks in advance.

[morg_monster]

No, it shouldn't, as long as you always make at least the minimum payment on time every month.

There are new regulations coming out soon which mean that credit card co's can see what other cards and loans etc you already have. I don't know the details of this, but I expect if all your debt is on one card then it wouldn't make a difference to your ability to get credit in the future. Might be a plan to close your earlier credit accounts and cut up the cards, though, if you haven't done so as you have gone along.