Should I apply for multiple credit cards with the same bank?
Guest: girlie
Credit Expert (100+ Posts)
Post subject: Should I apply for multiple credit cards with the same bank?
Posted: Tue Jun 06, 2006 11:27 am
I am going to be applying for a new card or two so that I can get a good 0% balance transfer rate. My two highest limit cards are from BoA and MBNA (one bought the other recently) - 15k and 17k. I really like BoA and am thinking of applying for a new card with them (or MBNA). I need a high limit (about 10k) and both MBNA and BoA have a reputation for high limits.
I am hesitating though because I wonder if I apply with BoA will they go "holly cow we already have a lot of credit extended to this person lets give her a lower limit." I wonder with my current limits if they will view giving me more credit as risky and not give me a high limit. So my questoin is - am I better off applying with a totally different bank because of this? Or do banks typically not really care about that when it comes to credit cards?
I have to watch my inquiries so I need to be super selective about what carrds I apply for.
Any input is appreciated!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fire3000
Credit Expert (100+ Posts)
Posted: Tue Jun 06, 2006 1:15 pm
This year I got approved for my third BOA card and my fourth Chase card. A few years ago I had three MBNA cards. So go ahead and apply to BOA. Once you get the card you can ask them to close one (the least desirable one) and combine the limits if you want to achieve the highest possible limit on a single card. I did this with my MBNA cards and they gave me an incredible credit limit. Opening a checking account at your local BOA branch will increase your chances for approval with a higher limit.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Credit Expert (100+ Posts)
Post subject: Should I apply for multiple credit cards with the same bank?
Posted: Tue Jun 06, 2006 11:27 am
I am going to be applying for a new card or two so that I can get a good 0% balance transfer rate. My two highest limit cards are from BoA and MBNA (one bought the other recently) - 15k and 17k. I really like BoA and am thinking of applying for a new card with them (or MBNA). I need a high limit (about 10k) and both MBNA and BoA have a reputation for high limits.
I am hesitating though because I wonder if I apply with BoA will they go "holly cow we already have a lot of credit extended to this person lets give her a lower limit." I wonder with my current limits if they will view giving me more credit as risky and not give me a high limit. So my questoin is - am I better off applying with a totally different bank because of this? Or do banks typically not really care about that when it comes to credit cards?
I have to watch my inquiries so I need to be super selective about what carrds I apply for.
Any input is appreciated!!
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Guest: fire3000
Credit Expert (100+ Posts)
Posted: Tue Jun 06, 2006 1:15 pm
This year I got approved for my third BOA card and my fourth Chase card. A few years ago I had three MBNA cards. So go ahead and apply to BOA. Once you get the card you can ask them to close one (the least desirable one) and combine the limits if you want to achieve the highest possible limit on a single card. I did this with my MBNA cards and they gave me an incredible credit limit. Opening a checking account at your local BOA branch will increase your chances for approval with a higher limit.
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 6:02 PM
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