Can you transfer a card with no balance, to a card, say which earns airline miles and does it hurt your credit
I have two cards with zero balance and wanted to transfer one of the to an airline card to earn the miles. Can you transfer cards with zero balances and does it affect your credit?
If you have no balance…there is nothing to transfer.
When people make referance to transferring from one card to another, to save on overlimit fees, or to get a better interest rate, or to get miles, they are talking about transferring their debt, from one card to another.
If there is no debt on the card, you have nothing to transfer.
Are both card types offered by the same institution? Otherwise, there really is nothing to “transfer” since you don’t have any balances.
Opening a new account should not have a material impact on your credit score. You probably should keep the other credit card account open, though. Closing an account with a longer credit history and replacing it with an account with no history can lower your credit score.
Also, do your research and determine whether the card offering the airline miles is really the best deal for you. Unless you are able to make regular, big ticket purchases each month and pay off the balance in full, you are probably going to end up paying more to earn the miles than you would if you just bought the airline ticket! You may end up paying a higher interest rate and higher overall fees for the card with the airline miles. Not to mention the fact that the airlines are getting more restrictive all the time in awarding airline miles.
just call the credit card company and ask if they can switch you card to a rewards card. This will not hurt your credit at all. Whil you are at it you should ask for an increase in limit if it has been a while since you had an increase and you pay your bills on time.