Posts: 16
Registered: ‎10-12-2012

Consolidating credit limit

I am trying to consoliate credit limit into one card.
(2 bofa card to 1, 3 chase cards to 1)
I got some positive answers from the banks so far.

If I can maintain the same credit line/limit and oldest account's history (open/activation date) after merging multiple cards into one,

will there be any change in my credit score?

Assuming that all other things remain the same (balance, credit line, history).
Only difference will be accounts closures thus less accounts.

Basically, my question is whether "closing accounts" itself has negative impact on the score while debt to credit ratio and history remain the same.

I appreciate all inputs. Thank you for your time reading my post.

Posts: 12,952
Registered: ‎04-15-2011

Re: Consolidating credit limit

You will decrease your number of open TLs.  The TLs will stay on your report and add AAoA for about 10 years before falling off.

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