Hello all.
After my app spree last month, I was thinking about the number of credit cards I have and was thinking that I might consider closing one of my Barclay CCs.
I have an Apple iTunes Reward Visa card with CL$5000 opened in September 2011 (last CLI in June 2012 with HP). It's been SD since 2012, and I haven't closed it because the CL helps with utilization. I tried SM Barclay's to see if I could at least upgrade the card to a Visa Signature and was told that the card was not eligible in late November 2014.
I have been reading the forums and finally began reworking on my credit portfolio. I had received umpteen pre-approved apps from Barclay's to apply for their Barclay Rewards MC. (Seriously, there was a 2 week period in late November when I was getting a letter every other day!) Since I was already going to have an app spree and had this invite from Barclay's, I figured I should just go for it. I previously posted about my success, but I must say that I was a bit disppointed by the fact that Barclay's only approved me for a Platinum MC (and not a WMC/WEMC) with a CL$1500. This is my lowest CL (yes, I know I have a BK7 on my record, but it's almost 8 years old, and my app spree resulted in other prime cards with much higher CL). I know they will consider an autoCLI after the 6th statement, but I realize that YMMV (particularly after reading the forums!). Perhaps my folly was not calling to recon the CL, but frankly, I didn't want another HP.
Anyway, enough backstory. I was thinking of moving my Apple iTunes Rewards Visa CL to the Rewards MC and closing the iTunes Visa. I think that's probably the reasonable thing to do. My AAoA already took the hit with the new account, and closing the older account doesn't mean much because it will continue to report for 10 years.
Given this plan, I have a couple questions:
- Should I wait until after the 6th statement cuts (to see if I even garner an autoCLI) before moving the CL around?
- How long do I need to wait after consolidating CLs to ask to upgrade the card to a WMC/WEMC (I also recognize that may not be a possibility)?
- Will asking for an upgrade constitute a PC and require a HP?
Any advice is welcome.
Thanks in advance.
Edited to add another question. 