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Transferring Credit Line (NOT a balance transfer)

New Visitor

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!!

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1 REPLY
Member

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.

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