How Do 0% Interest Offers Affect Your Credit Score

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Can you identify the mistake of the home buyer?

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John got an invitation to apply for a new credit card, offering an introductory rate of 0% – approved!

John is then offered a $10,000 credit line. He transfers his old $8,000 credit card balance to the new credit card and closes his old account. What’s going to happen to John’s credit score?