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Valued Member
Posts: 41
Registered: ‎07-07-2009
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move the credit limit from one card to another card

Recently, Citibank closed my credit card due to no usage in the past 24 months. I have another credit card from Citibank which I use intermittently.

 

My problem is I have more than one credit card with the same financial institutions. It was dumb of me to open so many accounts. My fico score is in the

range of 780-790. 

 

I want to protect my oldest account by using it more often. But, I'd also like to move the credit limit from one card to another card by the same organization and close 

the other card accounts. For example, I have 3 credit card account from Chase bank. 

 

Is it a good idea to do this ? Will it impact my credit score ? 

Member
Posts: 8
Registered: ‎06-17-2013
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Re: move the credit limit from one card to another card

That's exactly what I'm doing.  However, from what I have been reading, it's easier to do with some banks than others.

 

Barclay - easy.  Just took a phone call to move limits from a newer card to an older one and then close the newer one.

Chase - supposed to be easy.

Citi - seems like it depends who you get on the phone.

Regular Contributor
Posts: 224
Registered: ‎01-06-2016
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Re: move the credit limit from one card to another card

Barclay was easy. Just a phone call and they moved CL from my Apple Rewards to my Ring. 

 

Chase was easy, too. Just send a secure message. 

 

Citi - I haven't tried. Heard it was a HP? I may end up attempting to move some of my Dividend limit to the DC - or take HP (do they consider HP if they've denied SP for being too soon to request a CLI? or can I request SP after being denied for too soon when the 6 months has passed?). The Dividend categories suck and I'm currently carrying a balance on the promo APR at 0% on the DC. I'd like to increase my limit to decrease my card's util percentage. 

Valued Contributor
Posts: 1,090
Registered: ‎01-17-2012
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Re: move the credit limit from one card to another card

[ Edited ]

Today just transferred full amount from Sallie Mae to Barclay rewards.. Easy call, no questions other than "why are you closing it." It went very smooth.

 

Edit: I should clarify one thing, when I closed my SM they asked me if I wanted to transfer full amount to BR. I didn't have to bring it up

Amex Green • Amex BCP • Amex HH (Surpass®) • Barclay Rewards • Chase World of Hyatt • Capital One Quicksilver • Discover it • PENFED Platinum Rewards • Marvel MC • Amazon Store • Kohls Store • CL $92,130 • Car Loan (PENFED) 1.99%

FICO® 8 Scores 790+
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Frequent Contributor
Posts: 437
Registered: ‎06-04-2011
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Re: move the credit limit from one card to another card


allaboutcredit wrote:

Is it a good idea to do this ? Will it impact my credit score ? 


In your situation, as described, it sounds ike a good idea for you.  It will have negligible impact on your FICO scores until the closed cards age off 10+ years from now.

 


Frank3 wrote:

However, from what I have been reading, it's easier to do with some banks than others.

 

 


Rules for all the major issuers can be seen at http://www.doctorofcredit.com/rules-for-reallocating-your-credit-limit-with-each-credit-card-issuer/

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