Does changing banks reflect badly in terms of obtaining credit?

I carry a small balance on a credit card with my bank and I can eliminate the interest if I transfer the balance to a competing bank. I have been with my bank for years and they have done nothing for me, but if I move to a new bank just so save some intrest over a few months, does it mean I will have to build a new relationship with the new bank when it comes time to get a mortgage, etc? I am not very good at negotiating lower interest rates etc., so any advice you have is welcome. Thanks!

Does changing banks reflect badly in terms of obtaining credit?exchange rate

I would suggest that if you do open a new lower interest card, do not close the old card. Closing old accounts is bad for your credit because it lowers your average account age. Having one card paid off and one with a small balance, however, is good for you. The old account will help keep your utilization ratio low.

So far as your relationship with the bank, they generally only see %26quot;customer since.%26quot; I%26#039;m not an expert in this particular area, but I would hazard a guess that if you keep the account open but don%26#039;t use it (charge an item once a year or so to keep it %26quot;active%26quot;) it would be just as good for you in that respect as having it be your sole card.

Does changing banks reflect badly in terms of obtaining credit?

loan

Yes! But only because repeated credit searches adversley affect your credit rating. Why not just pay your credit card bill off when you get it? Or just use a debit card instead of a credit card?|||Eliminating high interest credit cards by transferring to a card with a lower rate can help you save a great deal of money, allowing you to regain control of your finances. However, it is important that you understand all of the terms and conditions of your new credit card before committing enrollment. You want to make certain that the card offer is fair and that you are truly going to benefit from it. Featured are tips that will help you choose and use the right credit card for transferring balances.

Pre-determining interest rates

Most balance transfer offers are good for only the first 6-9 months of enrollment. At the conclusion of the introductory rate, the card will convert to a more standard rate, typically between 14-20%. It is important that you determine what the interest rate is going to be once the intro rate is over. If you are not sure what interest rate the card is going to be charging at the conclusion of the intro offer, call the issuer and find out. Read more about it at: http://www.credit-card-gallery.com/artic...