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I'm sure this has been discussed, and perhaps there's even a handy name for it, but I did some searches, and as I'm not that familiar with all of the jargon, I couldn't find anything. If there's a big thread on this already, someone feel free to guide this post there.
I have a couple of accounts that I never use, like Lowe's and Overstock. I've always just kept them open because it adds to my available credit profile, but I've had a thought lately-- is it possible to change cards within the same bank without a hard pull? Example, Lowe's is Sync bank, and so is CareCredit, which I already have. Can I close my Lowe's acct and just have that credit line applied to my CareCredit? Similarly, Overstock is Comenity and so is the Virgin America Visa, which I do not have, but I would use more than the overstock acct-- would I be able to just automatically get the VA Visa without an application if I closed the Overstock acct?
Thanks!
@Anonymous wrote:I'm sure this has been discussed, and perhaps there's even a handy name for it, but I did some searches, and as I'm not that familiar with all of the jargon, I couldn't find anything. If there's a big thread on this already, someone feel free to guide this post there.
I have a couple of accounts that I never use, like Lowe's and Overstock. I've always just kept them open because it adds to my available credit profile, but I've had a thought lately-- is it possible to change cards within the same bank without a hard pull? Example, Lowe's is Sync bank, and so is CareCredit, which I already have. Can I close my Lowe's acct and just have that credit line applied to my CareCredit? Similarly, Overstock is Comenity and so is the Virgin America Visa, which I do not have, but I would use more than the overstock acct-- would I be able to just automatically get the VA Visa without an application if I closed the Overstock acct?
Thanks!
What you are asking about is called 'Product Change', commonly referred to PC on these boards. Some banks do allow you to change one of their products to another but it's something you need to check into in each case. In each of your cases the answer would be no You can't switch those cards to the other. Co branded cards have individual underwriting criteria so because you are approved for an Overstock card does not mean you will be approved for the Virgin America card. Therefore you need to apply individually for each of those cards. The same is true with the Lowes card.
@Anonymous wrote:
@Anonymous wrote:I'm sure this has been discussed, and perhaps there's even a handy name for it, but I did some searches, and as I'm not that familiar with all of the jargon, I couldn't find anything. If there's a big thread on this already, someone feel free to guide this post there.
I have a couple of accounts that I never use, like Lowe's and Overstock. I've always just kept them open because it adds to my available credit profile, but I've had a thought lately-- is it possible to change cards within the same bank without a hard pull? Example, Lowe's is Sync bank, and so is CareCredit, which I already have. Can I close my Lowe's acct and just have that credit line applied to my CareCredit? Similarly, Overstock is Comenity and so is the Virgin America Visa, which I do not have, but I would use more than the overstock acct-- would I be able to just automatically get the VA Visa without an application if I closed the Overstock acct?
Thanks!
What you are asking about is called 'Product Change', commonly referred to PC on these boards. Some banks do allow you to change one of their products to another but it's something you need to check into in each case. In each of your cases the answer would be no You can't switch those cards to the other. Co branded cards have individual underwriting criteria so because you are approved for an Overstock card does not mean you will be approved for the Virgin America card. Therefore you need to apply individually for each of those cards. The same is true with the Lowes card.
+1 great response.