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Orchard Bank Credit Cards Consolidated - Good or Bad?

Regular Contributor

Orchard Bank Credit Cards Consolidated - Good or Bad?

Hello All,
 
Yesterday I called Orchard's back door # and asked them to consolidate both my Platinum cards. Both with $300 limits. I chose to keep the card that I had open the longest (6 months longer than the other Orchard card) She rep ended up increasing the limit by $200 on the card I was closing and said the combined cards would now be $800 instead of $600. My question is this, will the closed account affect my scores even though both cards together will have a higher CL than them being separate?
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599
2 REPLIES
Valued Contributor

Re: Orchard Bank Credit Cards Consolidated - Good or Bad?

you did a good thing.  the closed card should still show as closed/300 cl. the new card will be open with 800 cl.  The closed card will be a factor for 10 years.  At least that is how capone does it.
Regular Contributor

Re: Orchard Bank Credit Cards Consolidated - Good or Bad?

WHEW! Thanks Casino...
FICO's 03/03/08 EQ 597, EX 581, TU 606
FICO's 04/30/08-EQ 632, EX 620, TU 618
FICO's 06/03/08 EQ 607, EX 591, TU 599