How will opening a new (high limit) card affect an already excellent credit score?

I have credit card debt; my boyfriend has excellent, immaculate credit. We have talked about him opening a new, 0% interest card and transferring my balances to it in order to pay off my debt (I can't get the credit limit needed to transfer all balances at once). I know carrying the balance won't really hurt him; but will opening another card? (He already has 2 cards with $10,000 limits each).|||Now for the correct answer.





Opening a new account will cause his score to drop but only by a few points due to the inquiry.





As far as the debt to credit ratio which makes up a full 30% of his score it will depend on how much total debt he ends up having. If his total debt exceeds 30% of his total credit limit then his score will take another hit.





My Wife and I did this same thing back several years ago and paid off all of our debt at 0%.





Good luck.|||Actually, carrying the balance will reduce his credit score. One of the calculations is the % of credit used. The higher the % the lower the score.|||I do not think that by opening a new account it will hurt his credit. As long as you continue to make payments on those accounts everything should be fine and the bank will continue to see that he handles credit well. Sorry, I'm not an expert, but I thought I'd take a stab at it!|||This isn't a good idea.