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Why doesn't banks allow combining credit lines anymore?

Contributor

Why doesn't banks allow combining credit lines anymore?

I have 2 CapOne and 2 Citi cards and I tried to combine them, but the rep just told me that because of the new credit card laws that they can't do it anymore. Why not? Is it in the law that credit card companies can't allow combining credit cards together?

9 REPLIES
Moderator Emerita

Re: Why doesn't banks allow combining credit lines anymore?

No, they just like to blame their decisions on the new law, like kids saying that their parents won't let them do something that they really don't want to do anyway.

 

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* Credit is a wonderful servant, but a terrible master. * Who's the boss --you or your credit?
FICO's: EQ 781 - TU 793 - EX 779 (from PSECU) - Done credit hunting; having fun with credit gardening. - EQ 590 on 5/14/2007
Contributor

Re: Why doesn't banks allow combining credit lines anymore?

Wiow, that's ridiculous! Does anyone know if there are still banks that allow combining? If so, who?

 

Thanks.

Valued Contributor

Re: Why doesn't banks allow combining credit lines anymore?

I have 2 chase cards and they won't combine.

Want me to apply for new card.

 

Senior Contributor

Re: Why doesn't banks allow combining credit lines anymore?

The new law has requirements for notification of change of terms.  This would make certain product changes and moving of balances a problem.  I don't think increasing CL on one account and decreasing it on another (or closing )  would be a legal problem.

 

The new law is used as a convenient excuse.  The question remains.  Why don't most banks want to do it?  Any opinions out there.

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Regular Contributor

Re: Why doesn't banks allow combining credit lines anymore?

I combined 3 of my chase cards this month. They were all freedom with one if them formerly being wamu. All totaled 9700cl.
Regular Contributor

Re: Why doesn't banks allow combining credit lines anymore?

Just tried to combine two of my orachard cards today. It was a no goSmiley Mad, so I cancelled one of them

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Established Member

Re: Why doesn't banks allow combining credit lines anymore?

Since United and Continental Airlines have merged, I wanted to cancel the Continental card account and combine its credit line with the United card. I called Chase last week and they did it, but not before asking me a few questions about my finances to update their records.
Valued Contributor

Re: Why doesn't banks allow combining credit lines anymore?

If it is multiple cards with annual fees/ or better (for the company) terms on one over the other- they probably want to protect their revenue streams.

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Super Contributor

Re: Why doesn't banks allow combining credit lines anymore?

There is no benefit to the CCC in allowing you to combine CLs.  IMHO asking for them to do it could set you up for AA.

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