Will a balance transfer hurt my credit?

Question

I have always paid my bill on time except here recently. Now I am at the 28% default rate with 5 more payments till the rate is reduced down. Problem is these 5 payments are very high. Would I be better off to pay the five payments or if I transfer balances will it hurt my credit score?

Answer 1

There are several factors involved, like how long the one account has been opened. Are you over the credit limit ~ How much other debt do you have

Answer 2

No it will not affect it at all, as your overall debt will not increase.