credit card balance transfer

Hi I have a $10k credit card debt that I would like to transfer the balance to a 0% card. (Just trying to buy a year or so?s grace in order to pay down my cc debt!)
I have read on the forum that a credit card balance transfer trashes your credit rating? Can someone tell me more about this?

I am purchasing a property that will settle in a months time ? is this something I have to declare on a credit card application? (I presume the impending loan would be revealed in a credit check anyway?)

Does applying for another credit card in any way risk the approved home loan going through and settling? (ie would it be better to wait until after the settlement date to apply?)

Thanking you in advance for any replies!
 
A credit card application will show in your credit report and this will affect you will depend on the LVR and a few other things. It may not be an issue but could be. Speak to your broker about the impact
 
onthebus,Are you using a broker or didn't declare your CC debt in loan application?

Anyhow,as Terry w mentioned it will show up via ccp and if it doesn't affect your loan app,i can't see why not you couldn't change cards to a 0%,i could be wrong though.

Probably best bet,wait after settlement and do the CC swap,that is if your loan app goes through.

Good luck.

Ps.Please note,i'm no expert,seek advice from a broker.
 
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