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Combining credit lines

Moderator Emeritus

Combining credit lines

I have two cards with BoA. I have talked to them about combining the credit lines into one account (the oldest). I'm told it's not a problem but I'm wondering in this financial climate if this large (for me) single CL ($19,300) might then be a nice target for a future AA? Both are at 0 balance and I plan to keep usage to about 1% or so to keep the account active. And of course PIF.

 

Any thoughts? I am thinking that by doing this my record keeping would be simplified. But it's not something I HAVE to do right now.

 

 

Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

Message 1 of 6
5 REPLIES
Senior Contributor

Re: Combining credit lines

Speaking from a technical standpoint, if BoA system does a review of CL's based on amount, this could put your account under review where as separate accounts might not.

 

If you have two accounts with an average CL of slightly less than $10k, and you want to conservatively avoid potential AA due to system initiated reviews of accounts, then you may want to keep them as-is.

 

I have no specific knowledge on this, except that many higher CL's to long standing, perfect history customers were cut.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 2 of 6
New Member

Re: Combining credit lines


txjohn wrote:

Speaking from a technical standpoint, if BoA system does a review of CL's based on amount, this could put your account under review where as separate accounts might not.

 

If you have two accounts with an average

 

CL of slightly less than $10k, and you want to conservatively avoid potential AA due to system initiated reviews of accounts, then you may want to keep them as-is.

 

I have no specific knowledge on this, except that many higher CL's to long standing, perfect history customers were cut.

 

 


  Count me among said victims.  But I recovered and B of A has become a victim of mine now.  Smiley Happy  Doing nada banking with em.   

Message 3 of 6
Frequent Contributor

Re: Combining credit lines


txjohn wrote:

Speaking from a technical standpoint, if BoA system does a review of CL's based on amount, this could put your account under review where as separate accounts might not.

 

If you have two accounts with an average CL of slightly less than $10k, and you want to conservatively avoid potential AA due to system initiated reviews of accounts, then you may want to keep them as-is.

 

I have no specific knowledge on this, except that many higher CL's to long standing, perfect history customers were cut.

 


 +1

 

IMHO, Do Not Combine. Do not rely on BOA posts from last two years. So much has changed.

01/04/10 TU 778 EQ 731
08/05/09 TU 762 EQ 722
02/12/09 TU 722 EQ 704 EX 690
EQ sensitive to inqs & student loan.
Message 4 of 6
Moderator Emeritus

Re: Combining credit lines

IMHO, Do Not Combine. Do not rely on BOA posts from last two years. So much has changed.

 

 

Yeah I may just let them stew for awhile. It's worked fine having them both for about 5 years. If it's not broken............

 

 

Time can heal all wounds and a low FICO.
"Hello my name is Sandy and I'm a recovering crediholic".

Message 5 of 6
Senior Contributor

Re: Combining credit lines

I think it wise to let em be.  Probably easier to get a CLI down the road on them than on a $20k-ish CL.

 

 

Credit Scoring 101 - Tuscani   *  Guide to Common Abbreviations
Frequently Requested Threads * FICO High Achievers  *  FICO Score Estimator


09/03/2009 TU: 777, EQ: 776 ($8 balance on an account dropped me out of 780's)
03/28/2009 TU: 814, EQ: 810, EX: 781 (02/12/2009)
05/18/2005 TU: 563, EQ: 580, EX: 549
Message 6 of 6