Combining Credit Card Limits
Author: Alexis Rios
Posted: Mon May 30, 2005 1:33 pm
Post subject: Combining Credit Card Limits
I have 2 Bank One / Chase Platinum Visa cards and i which to combine the credit limits from both to have only one account open. Can affect (negative or positive)doing that? I have good/excellent credit status.
Author: mouse
Posted: Mon May 30, 2005 5:48 pm
Post subject:Combining Credit Card Limits
You will still have the same amount of total credit limit so it should make little or no difference...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira
Posted: Mon May 30, 2005 11:28 pm
Post subject: Combining Credit Card Limits
If the cards are from the SAME ISSUER, no problem. Chae and Bank One have not completed the pooling of their records yet. Thus you may not be able to do this. However, all it will cost you to find out is a few minutes on the phone with customer service. Why waste your time asking that sort of question here? Just call and ask. THEY can give you an official yes or no; we can't.
Author: Alexis Rios
Posted: Tue May 31, 2005 2:39 pm
Post subject: Combining Credit Card Limits
Both are BankOne (now Chase )Visa Platinum , an i just asking because i read an article saying that the creditors perceive high credit limit accounts as premium bankcards , and sometimes having a high credit limit account is better than two (or more)lesser credit limit accounts.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Jordan
Posted: Tue May 31, 2005 10:31 pm
Post subject: Combining Credit Card Limits
I did this once with BOA with no problem. I think I had 6k limite on one card and 5k on the other. I consolidated and my credit report showed 1 account closed and 1 account with an 11k credit limit. I would think that even if you dont consolidate they can still move the credit from one card to the other if it is within the same bank and both cards are under the same primary cardholder.
Author: mouse
Posted: Tue May 31, 2005 10:35 pm
Post subject: Combining Credit Card Limits
AUGUST 2005 YOU CAN COMBINE BANK ONE & CHASE or TRADE PRODUCTS
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Alexis Rios
Posted: Wed Jun 01, 2005 2:41 pm
Post subject: Combining Credit Card Limits
but my point is if i combine both cc accounts , my credit report and score will be affected? Or i'll increase the credit score?
Author: Daniel
Posted: Sat Jun 04, 2005 10:44 am
Post subject: Combining Credit Card Limits
The primary reason that closing accounts is bad for a Fico score is the reduction in available credit but in the case of combining this is not the case so it’s generally neutral give or take a few points.
Even if you did loose a few points; it will recover.
Combining limits is a marvelous tool to increasing your other credit lines or to getting a higher line on your next new card.
A bank is more willing to match an existing $20,000 credit line than granting a $20,000 line with two accounts having $10,000 lines.
I would go ahead and combine.
IMHO, it is best to think long term for credit and score building.
Posted: Mon May 30, 2005 1:33 pm
Post subject: Combining Credit Card Limits
I have 2 Bank One / Chase Platinum Visa cards and i which to combine the credit limits from both to have only one account open. Can affect (negative or positive)doing that? I have good/excellent credit status.
Author: mouse
Posted: Mon May 30, 2005 5:48 pm
Post subject:Combining Credit Card Limits
You will still have the same amount of total credit limit so it should make little or no difference...
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira
Posted: Mon May 30, 2005 11:28 pm
Post subject: Combining Credit Card Limits
If the cards are from the SAME ISSUER, no problem. Chae and Bank One have not completed the pooling of their records yet. Thus you may not be able to do this. However, all it will cost you to find out is a few minutes on the phone with customer service. Why waste your time asking that sort of question here? Just call and ask. THEY can give you an official yes or no; we can't.
Author: Alexis Rios
Posted: Tue May 31, 2005 2:39 pm
Post subject: Combining Credit Card Limits
Both are BankOne (now Chase )Visa Platinum , an i just asking because i read an article saying that the creditors perceive high credit limit accounts as premium bankcards , and sometimes having a high credit limit account is better than two (or more)lesser credit limit accounts.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Jordan
Posted: Tue May 31, 2005 10:31 pm
Post subject: Combining Credit Card Limits
I did this once with BOA with no problem. I think I had 6k limite on one card and 5k on the other. I consolidated and my credit report showed 1 account closed and 1 account with an 11k credit limit. I would think that even if you dont consolidate they can still move the credit from one card to the other if it is within the same bank and both cards are under the same primary cardholder.
Author: mouse
Posted: Tue May 31, 2005 10:35 pm
Post subject: Combining Credit Card Limits
AUGUST 2005 YOU CAN COMBINE BANK ONE & CHASE or TRADE PRODUCTS
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Alexis Rios
Posted: Wed Jun 01, 2005 2:41 pm
Post subject: Combining Credit Card Limits
but my point is if i combine both cc accounts , my credit report and score will be affected? Or i'll increase the credit score?
Author: Daniel
Posted: Sat Jun 04, 2005 10:44 am
Post subject: Combining Credit Card Limits
The primary reason that closing accounts is bad for a Fico score is the reduction in available credit but in the case of combining this is not the case so it’s generally neutral give or take a few points.
Even if you did loose a few points; it will recover.
Combining limits is a marvelous tool to increasing your other credit lines or to getting a higher line on your next new card.
A bank is more willing to match an existing $20,000 credit line than granting a $20,000 line with two accounts having $10,000 lines.
I would go ahead and combine.
IMHO, it is best to think long term for credit and score building.
posted by CardRatings.com at 11:34 AM
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