Merging Credit Limits

Anonymous — Fri, 19 Dec 2014 23:51:49 GMT

I have two BOA credit cards (Better Balance Rewards, and Signature Cash Rewards). Both accounts have 12k limits. The Cash Rewards is caring a $5,800 balance at 0% until December of 2016, while the Better Balance is carrying a $0 balance (as of this week- I BT $10,000 to my Citi Simplicity account.

Now my question is, would there be any value in transferring some of the credit limit from my Better Balance to my Cash Rewards account as a means to dilute my credit utilization on the account? I don't intend to use the Better Balance account very often other than to keep it minimally active. I just am not sure if reducing the limit on the account will report negatively on my credit, even if its compensated by adding onto my other account. I'm not one for band aid fixes- but this one had me wondering.

Thank you all in advance for reading and carefully considering my question.

Re: Merging Credit Limits

Creditaddict — Sat, 20 Dec 2014 00:24:07 GMT

the problem is Bofa pulls a HP before they will move CL's (GHETTO!)

the advantage if you put $12k more CL on yoru cash rewards yoru balance would be almost under 25% CL so your ratios would look better but if you are collecting your rewards off the better balance then I would probably just do that just depends if you rather just 1 card with higher limit

topic Re: Merging Credit Limits in Credit Cards

Merging Credit Limits

Re: Merging Credit Limits