topic Re: Consolidating Available Credit in Credit Cards

Consolidating Available Credit

anm688 — Thu, 30 Apr 2015 16:07:08 GMT

i just called Barclay Card and had them consolidate my credit into one account because I was closing my Apple Card and wanted that available limit moved to my American Airlines Aviator Card.

Do you all know of any other companies out there that make it easy to consolidate available credit? Barclays was super easy and will now increase my AAoA because I closed a more recent account.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 16:09:37 GMT

Chase

Re: Consolidating Available Credit

anm688 — Thu, 30 Apr 2015 16:49:06 GMT

Chase doesn't like me

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 16:53:02 GMT

@anm688 wrote:
i just called Barclay Card and had them consolidate my credit into one account because I was closing my Apple Card and wanted that available limit moved to my American Airlines Aviator Card.

Do you all know of any other companies out there that make it easy to consolidate available credit? Barclays was super easy and will now increase my AAoA because I closed a more recent account.

What cards do you have to consolidate? Chase is extremely easy, Citi typically requires a HP to transfer limits, Amex usually does, Capital One does not, WF is a HP.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 17:03:55 GMT

Closing an account will not change anything for you AAoA for the next ten years as it still remains on your reports for that amount of time. Bank of America will move limits too but it will cost a HP. I have never had any luck with Citi and Chase is very easy to move as well.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 17:06:45 GMT

@MstrPTato wrote:
Closing an account will not change anything for you AAoA for the next ten years as it still remains on your reports for that amount of time. Bank of America will move limits too but it will cost a HP. I have never had any luck with Citi and Chase is very easy to move as well.

Exactly. Not going to affect AAoA one bit.

Re: Consolidating Available Credit

ksantangelo23 — Thu, 30 Apr 2015 18:01:26 GMT

American Express allows reallocation, provided you meet their requirements

Re: Consolidating Available Credit

Kenro — Thu, 30 Apr 2015 19:01:27 GMT

Chase relocated mine within 24hr through secure message request.

Amex is denying me though... Says my accounts havent been open long enough... My chase accounts were 2 months old when I requested relocation.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 19:13:23 GMT

On this subject. I got the Marriott card 11/2014 and the Ritz card 12/2014. Based on other factors I just don't feel the Ritz is a proper card for me and would love to close that out and transfer the CL to my Marriott card. The "pull" for apping the Ritz was that massive bonus. Is it too early to ask for this without risking AA? I just got the CSP with my best limit and definitely see the CSP as a long-term primary use card.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 19:25:14 GMT

@missingcalifornia I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 19:37:08 GMT

@Anonymous wrote:
@Anonymous I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.

Awesome, thank you very much.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 19:51:12 GMT

@Anonymous wrote:
@Anonymous wrote:
@Anonymous I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.
Awesome, thank you very much.

You're welcome. Happy to help.

Re: Consolidating Available Credit

Kenro — Thu, 30 Apr 2015 20:26:52 GMT

@Anonymous wrote:
@Anonymous I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.

Ritz and Marriot are both Visa Signature. If I remember right, the lowest possible amount to keep a Visa Sig open is 5 000$ not 500$.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 20:37:51 GMT

Not quite correct. The lowest VS approval amount with Chase is usually 5k. Once you have the card it remains a VS regardless of the CL amount.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 20:43:32 GMT

@Kenro wrote:
@Anonymous wrote:
@Anonymous I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.
Ritz and Marriot are both Visa Signature. If I remember right, the lowest possible amount to keep a Visa Sig open is 5 000$ not 500$.

Chase allows you to lower limits past the minimum required CL for a visa siggy. The minimum limit Chase enforces to keep it open is $500 if i'm not mistaken.

Re: Consolidating Available Credit

anm688 — Thu, 30 Apr 2015 20:54:29 GMT

So is FICO at all effected by average age of open accounts? Or is it only average age of all accounts?

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 20:58:00 GMT

@anm688 wrote:
So is FICO at all effected by average age of open accounts? Or is it only average age of all accounts?

All accounts. If you close an account it still shows up on FICO for 10 years.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 21:01:49 GMT

@anm688 wrote:
So is FICO at all effected by average age of open accounts? Or is it only average age of all accounts?

FICO scoring includes closed accounts for calculating your average age of accounts. Closed accounts remain on your report for ten years.

Re: Consolidating Available Credit

Anonymous — Thu, 30 Apr 2015 21:02:11 GMT

@Anonymous wrote:
@anm688 wrote:
So is FICO at all effected by average age of open accounts? Or is it only average age of all accounts?
All accounts. If you close an account it still shows up on FICO for 10 years.

Beat me to it lol

Re: Consolidating Available Credit

Kenro — Fri, 01 May 2015 02:33:46 GMT

@Anonymous wrote:
@Kenro wrote:
@Anonymous wrote:
@Anonymous I would transfer over your limit from the ritz to the Marriott, but leave $500 on the ritz. Wait until the annual fee is up and then close it imo. This way chase won't look oddly at the closing whatsoever just to be safe. You can also have more time to max out the ritz travel credit unless you have already done so.
Ritz and Marriot are both Visa Signature. If I remember right, the lowest possible amount to keep a Visa Sig open is 5 000$ not 500$.
Chase allows you to lower limits past the minimum required CL for a visa siggy. The minimum limit Chase enforces to keep it open is $500 if i'm not mistaken.

That is a pretty neat thing.... I shall use this, I always assumed that 5 000 was the lowest bound.