Barclays Consolidation

Anonymous · ‎07-17-2015

Anyone know how long it takes to merge CLs? Is there any downside?

ojefferyo · ‎07-17-2015

@Anonymous wrote:
Anyone know how long it takes to merge CLs? Is there any downside?

Pretty much as soon as you get off the phone with them. I don't really see any downside, you still have the available credit but if you transfer all then the card would show up as closed.

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Anonymous · ‎07-17-2015

@Anonymous wrote:
Anyone know how long it takes to merge CLs? Is there any downside?

It is done immediately once the request is made. The only downside is once it is done, you can't get it undone..

Anonymous · ‎07-17-2015

Down side would be if you reduced one credit line below a level that could impact your profile. For example, if one of your credit lines was 6k and you reduced it to 2700k - may not be wise because now you suddenly created a credit line below 5k, which you didn't before. 5k is a threshold for many lenders for them to feel good about increasing their credit exposure to you on a broader level. Every situation is diffierent, but it helps to think about the impact before making a move. Hope this helps.

Anonymous · ‎07-17-2015

@Anonymous wrote:
Down side would be if you reduced one credit line below a level that could impact your profile. For example, if one of your credit lines was 6k and you reduced it to 2700k - may not be wise because now you suddenly created a credit line below 5k, which you didn't before. 5k is a threshold for many lenders for them to feel good about increasing their credit exposure to you on a broader level. Every situation is diffierent, but it helps to think about the impact before making a move. Hope this helps.

I disagree as OP will not be reducing a credit line. That is not what the poster is inquiring. Consolidating is combining the account NOT reducing the limit. Impact on credit profile is the same as limits will increase.

Anonymous · ‎07-17-2015

Well, I called about 2 hours ago and online accounts are unchanged, $3K added to $2K. Didn't need the Apple since Apple replaced my 4 year old MBP for free!

Anonymous · ‎07-17-2015

@Anonymous wrote:
Well, I called about 2 hours ago and online accounts are unchanged, $3K added to $2K. Didn't need the Apple since Apple replaced my 4 year old MBP for free!

Call back and make sure it was done correctly. Tell them you are not seeing it online. If you did so 2 hours ago, it should be showing immediately once you log in to your account.

Anonymous · ‎07-17-2015

Why would you want multiple little bitty 2k credit lines instead or several larger ones? Seems dumb.

Anonymous · ‎07-17-2015

@Anonymous wrote:
Why would you want multiple little bitty 2k credit lines instead or several larger ones? Seems dumb.

Where are you getting this from? OP looking to merge his/her 3k line to the 2k line bringing the credit line to 5k on 1 card from my understanding hence the question.

Anonymous · ‎07-17-2015

as soon as the credit dept. rep pushes the button, it'll be applied immediately. I got it done today at 6 in the morning, the whole phone call took less than 2 min.