Reply
New Visitor
Posts: 1
Registered: ‎01-26-2011
0

Transferring Credit Line (NOT a balance transfer)

I've looked all over the internet for information on this topic and have come up pretty empty handed. I currently have two credit cards with Chase and two credit cards with BoA, with both companies I have one card that I never use. I want to transfer my credit lines over to the cards that I do use, and close the cards that I don't use. I haven't been able to find anything online about potential credit score repercussions on this. I'm sure it'll ding my score by a bit, but not a lot right? If my total overall credit limit amounts aren't changing, then it shouldn't affect anything too badly, right?

 

I have good credit, close to 800 last time I checked (last summer), and don't plan on trying to apply for any new lines of credit in the near future, but things may come up and I just want to try and get an understanding of how this may affect me before I go about it.

 

One thing I need to check into is the length of time I've had these accounts, the one Chase card that I want to close may be my longest standing credit card, but I've heard that if you have other cards open for at least 7 years this shouldn't matter?

 

 

Thanks for any input!!

Member
Posts: 16
Registered: ‎04-14-2010
0

Re: Transferring Credit Line (NOT a balance transfer)

The only CC company that I know of that allowed you to consolidate credit lines was American Express, and this ended about a 18 months ago. I don't believe either of those companies will allow you to move your limits around.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on actual applicant approvals and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.