Tips on Combining Credit Cards
Author: milavant
Posted: Fri Feb 04, 2005 12:34 pm
Post subject: Combining Credit Cards
What would be the GOOD things about combining two credit cards (MC and Visa) from the same issuer for a combined credit limit on one card?
My FICO is in the high 700s, plus I also have an AMEX card.
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Author: Daniel
Posted: Fri Feb 04, 2005 11:41 pm
Post subject: Re: Combining Credit Cards
milavant wrote:
What would be the GOOD things about combining two credit cards (MC and Visa) from the same issuer for a combined credit limit on one card?
My FICO is in the high 700s, plus I also have an AMEX card.
Having a larger line on one card sometimes will bring about an advantage in future line increases or better initial lines for new cards.
Combining cards is a great way to get that higher line in a short period of time.
Many banks will match your highest line reporting, so you will prefer their card over the competitors.
Of course score income etc… also factor in.
Author: Ira
Sat Feb 05, 2005 5:20 am
Post subject: Tips on Combining Credit Cards
You can't combine a MasterCard & a Visa, even though they're from the same issuer. It's a rule.
Why would you combine like cards from the same issuer? I've done it to take advantage of a special offer, such as a 0% balance transfer rate, that one card had and the other didn't. Other than that it can neither help nor hurt your credit because your total available credit and total utilization will not change.
The only negative might be if you have a short credit history and you merged the older card into the younger. This could actually shorten your credit history.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Fri Feb 04, 2005 12:34 pm
Post subject: Combining Credit Cards
What would be the GOOD things about combining two credit cards (MC and Visa) from the same issuer for a combined credit limit on one card?
My FICO is in the high 700s, plus I also have an AMEX card.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Daniel
Posted: Fri Feb 04, 2005 11:41 pm
Post subject: Re: Combining Credit Cards
milavant wrote:
What would be the GOOD things about combining two credit cards (MC and Visa) from the same issuer for a combined credit limit on one card?
My FICO is in the high 700s, plus I also have an AMEX card.
Having a larger line on one card sometimes will bring about an advantage in future line increases or better initial lines for new cards.
Combining cards is a great way to get that higher line in a short period of time.
Many banks will match your highest line reporting, so you will prefer their card over the competitors.
Of course score income etc… also factor in.
Author: Ira
Sat Feb 05, 2005 5:20 am
Post subject: Tips on Combining Credit Cards
You can't combine a MasterCard & a Visa, even though they're from the same issuer. It's a rule.
Why would you combine like cards from the same issuer? I've done it to take advantage of a special offer, such as a 0% balance transfer rate, that one card had and the other didn't. Other than that it can neither help nor hurt your credit because your total available credit and total utilization will not change.
The only negative might be if you have a short credit history and you merged the older card into the younger. This could actually shorten your credit history.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 4:37 PM
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