Transferring the limit is closing the card. If eligible and it goes through, then the card's limit that was moved will be closed. I think both AMEX and Cap 1 allow you to do it online anyway. Could be wrong about AMEX; I don't have one.
@Repairman wrote:
@FinStar wrote:
@FICOEmpire wrote:
@Repairman wrote:
@Simba501 wrote:Transferring the limit is closing the card. If eligible and it goes through, then the card's limit that was moved will be closed. I think both AMEX and Cap 1 allow you to do it online anyway. Could be wrong about AMEX; I don't have one.
I didn't realize that. I thought you could transfer a partial amount of the credit line from one card, and keep it open if you so chose. Is that not correct?
With AMEX you can transfer a portion of the limit between cards. Do it online with chat or call them. The donor card has to be 13 months old and the recipient 3 months. With Cap 1, you can combine accounts online. The entire limit will be transferred and the donor acct will be closed. I don't know if you can transfer just a portion of the CL. Chat or call.
Correct.
OP - for Capital One, it's all or nothing - there is no partial CL reallocation. Once you click submit, there's no going back and the donor card will be effectively closed.
And I assume they explain all of that to you during the process?
I would assume you're an individual who reviews disclosures and T&C before clicking "submit"? If so, and specific to Capital One, this information is provided at the point of combining the accounts - be sure to read things carefully to ensure it agrees with your expected results. It cannot be undone once you click submit (hence why you'd check the boxes).
