Q about Closing and Consolidating CC Accts

Anonymous · ‎05-09-2017

The DW has great scores (mid 800's).

She has a number of CCs (CL totals about 130k) and we are looking to weed out some and consolidate others.

Elan Financial Card: no rewards, low CL, not used much and now canceled.

Barclay's: thinking about closing a reward card, smaller CL, rewards, not used much and from what I've read about them, we rather do it them, before they do it to us.

Citi Bank: 2 cards, mid sized CL and no rewards. I'd like to consolidate the two into one. Will Citi allow you to transfer the CL to the other card?

Chase: three cards 1 small CL and 2 good ones. I'd like to consolidate the smaller into one of the bigger, will Chase allow you to transfer CL's?

She has opened one card each year or so to take advantage of zero percent for X months and bonuses (we've used them to pay larger expenses without any interest) so we have a few extra cards and figured it was time to cut. Thought it was a good plan.

AverageJoesCredit · ‎05-09-2017

Chase for sure you can tansfer limits. Ive read of some cases with Citi but not 100% sure. If you list your specific cards youll probably get better advice as many have different experiences with different cards but without knowing what you/ she has, its like shooting fish in a barrel in the dark

-Cal- · ‎05-09-2017

Barclay will instantly reallocate limits for you over the phone.

Chase will instantly reallocate over the phone but may have some limitations on how much you can allocate depending on your account status.

Amex limits can be reallocated online using the "secret" link: https://online.americanexpress.com/myca/linereallocation/us/ssr.do?request_type=authreg_LineRealloca...

Citi will reallocate limits for you but it will cost you a hard pull.

I'm sure others will chime in with some other issuers.

DeeBee78 · ‎05-09-2017

@-Cal- wrote:
Barclay will instantly reallocate limits for you over the phone.

Chase will instantly reallocate over the phone but may have some limitations on how much you can allocate depending on your account status.

Amex limits can be reallocated online using the "secret" link: https://online.americanexpress.com/myca/linereallocation/us/ssr.do?request_type=authreg_LineRealloca...

Citi will reallocate limits for you but it will cost you a hard pull.

I'm sure others will chime in with some other issuers.

FYI on Amex, that link isn't really secret. You simply go into Account services --> Credit Management --> Transfer Available Credit to Another Card. Same place you can go to request a CLI.

Anonymous · ‎05-10-2017

Thanks all for the info.

We are going to close Barclay's, (we only have one card with them). That card never gets used.

The card we would close with Chase has a 4k CL and would be transferred to a card with 18k line.

As for Citi, I'll call them and see if they will move the one line without a HP, if not I'll just close the smaller card.

Anonymous · ‎05-10-2017

Citi will not transfer credit lines.

It would have been a credit line increase request with a HP.

No thanks, card closed.