Is there a downside to transferring credit lines (corrected here. I said balances before) between accounts? The upside seems obvious with an increased credit line. Has anyone ever left a small credit line and not closed the card?
I just did that this morning. I didn't close the one account because I couldn't do that online and wasn't sure I wanted to do anyway, thinking I might ask for a cli in a few months and keep the card.
I left a credit line balance of 200.00, which was the smallest amount I could leave. Ouch.
Should I call and close that card or wait a few months an ask for a credit increase? Any thoughts would be appreciated. Am I just having "transfer remorse?" lol (Because I now have such a small credit line.)
This was Bank of America, if that helps. I increased my Rewards to 16,800k, which I wanted to do.
Hi musiclover, sounds similar to my situation with Barclay and moving credit lines when I opened the Ring card. I'd recommend sitting down and listing pros/ cons of each decision, because it is individual to your situation and may be different from what would work for another person.
I did initially move part of two credit lines to the Ring, then just decided there was no benefit to leaving a tiny credit line on any card, moved it all, and closed down the prior cards. I could not see any positive to leaving a small CL that did not add anything to my profile.
It sounds as if a $200 CL won't be very usable, so I'd just close it, but you have to do what seems right to you. As you know you really won't lose much on your credit profile in terms of history.
Good luck! Let me know if I can help further 
@Anonymous wrote:Hi musiclover, sounds similar to my situation with Barclay and moving credit lines when I opened the Ring card. I'd recommend sitting down and listing pros/ cons of each decision, because it is individual to your situation and may be different from what would work for another person.
I did initially move part of two credit lines to the Ring, then just decided there was no benefit to leaving a tiny credit line on any card, moved it all, and closed down the prior cards. I could not see any positive to leaving a small CL that did not add anything to my profile.
It sounds as if a $200 CL won't be very usable, so I'd just close it, but you have to do what seems right to you. As you know you really won't lose much on your credit profile in terms of history.
Good luck! Let me know if I can help further
Thanks, humu. Definitely food for thought...I wonder if the 200.00 CL will do anything to my credit score.
Agreed. Plus, you'd have to put a fair amount of spend on the $200 limit card for it to qualify for a CLI, and do you really want to be spending your time and efforts in doing that on a small limit card? I think it's best to streamline.
I know I will enjoy having fewer cards to have to place spend on as I continue to streamline over the next year!
@Anonymous wrote:Agreed. Plus, you'd have to put a fair amount of spend on the $200 limit card for it to qualify for a CLI, and do you really want to be spending your time and efforts in doing that on a small limit card? I think it's best to streamline.
I know I will enjoy having fewer cards to have to place spend on as I continue to streamline over the next year!
Um, hadn't thought about it that way...