topic Re: Combining CLs in Credit Cards

Combining CLs

Anonymous — Sat, 14 Sep 2013 14:21:59 GMT

Just looking for some opinions...

I have 2 credit card products from a credit union, 10k and 1.5k. I was considering xfering some of the 10k to the 1.5k just to even them out some (i dont know maybe 5k and 6.5k). The only concerns that come to mind are:

-With the 10k being close to maxed out (and maybe theyll require the CL to be free before xfer), wouldnt the credit report entry show CL 6.5k with a High Balance 10k? That would look terrible on manual reviews I would think.

-It is my understanding that some CC issuers like to match your highest CL. If so, nixing the 10k CL may be shooting myself in the foot.

Input on these two, or any other pro/con I havent thought of would be appreciated.

Thank You!

Re: Combining CLs

parakleet — Sat, 14 Sep 2013 15:54:51 GMT

Assuming that your CU even allows transferring of CLs, I doubt that you'll be able to transfer non available CL (since you said that you're maxed out on the 10k CC). Besides, with a 10k CC maxed out and without knowing more, I seriously doubt your odds on getting new TLs.

Re: Combining CLs

09Lexie — Sat, 14 Sep 2013 16:16:13 GMT

I agree with parakleet. Not knowing the exact figures, if you decide to move the CL's wouldn't you be maxing out 2ccs?

Re: Combining CLs

Anonymous — Sat, 14 Sep 2013 16:26:42 GMT

Also, assuming you could move the CLs, can you outline your thinking on why you want to move CLs? Is the 1.5k card have better rewards or better terms or something you want to take advantage of but don't have the CL to do so?

Re: Combining CLs

Anonymous — Sat, 14 Sep 2013 18:21:47 GMT

They wouldnt be new credit products, simply making the current products 6.5k/5k instead of 10k/1.5k. Again, more than likely this would have to wait until the 5k being moved is freed up.

No particular reason, was just thinking it made for a more even credit profile (when utilization is low). Just an idea, maybe I'm off base in thinking.

Is it better to have one 10k CL or two 5k+ CLs? I mean along the lines of how a credit profile appears, not individual preference.

Re: Combining CLs

Anonymous — Sat, 14 Sep 2013 18:44:18 GMT

Need to know your other credit lines to give you advice on which is better. Score wise it makes no difference.