Senior Contributor
Posts: 4,635
Registered: ‎03-11-2007
Re: Combine, Cancel, or Leave it alone?

Jamesus81801 wrote:
I currently have 2 Cap One cards, one has a $500 CL (with $49 ann fee), the other $750.  14.9% on the $500, recently reduced 8.9% on the $750.  I called to have the higher % reduced and to have the Ann Fee removed, I was offered to combine the two CLs and take the lower %, which would close the card with the Ann Fee.  I've never heard of this and was curious what this might do to my credit.

Take the deal. Your overall CL will be the same. If there's even a modest balance riding on the CC that will close, and that's moving to the CC that will remain open, you could see a small increase in your FICO scores.