Credit Rating Question.

Hedge · 28 Oct 2011 at 01:49

If my Mother transfers the balance of my Credit Card onto hers, does it improve my rating with regards to me clearing some of my debt?

I need to pay off a credit card of £1000 asap because my rating is still not ideal. My Mam has a 0% balance transfer card and is happy to take my debt to her name.

Thats good for my situation yeah?

helmet · 28 Oct 2011 at 02:14

I believe so yes but if you both stay together then from a 'window' perspective anyone looking at the collective property credit rating, the'll see right through what went on and probably won't be any change in what they see just now.
If on the other hand it's just for persons looking at your rating then yeah can't think why that would be bad.

There was another post here today, I think about scamming where folks were saying you can check with Experian your own credit rating free for 30 days.

Cheers, HIH

platypus · 28 Oct 2011 at 09:06

That won't work for a thorough credit inspection, but will, as helmet says help with normal credit checks.

Hedge · 28 Oct 2011 at 11:44

Ok so its worth doing then?

Seems it can't have any negative effect so ill go for it

Will Gill · 28 Oct 2011 at 11:45

definitely won't do you any harm