Advice please re: Consolidating two cards

[Anonymous]

I have 2 Bank of America credit cards.  Bank of America Amex with a CL of $12,100; 7.90% APR and a Bank of America Worldpoints card with a CL of $3,200, 1.99% BT until December, 2008 and 9.99% APR.

A customer service representative at Bank of America recommended that I consider consolidating the two cards.  Is this a wise decision?

I have a balance on my Bank of America Worldpoints card that I will pay off first before consolidating the two cards if this is indeed a wise decision.

Thank you for your input.

SandyK

[Anonymous]

Whether it is wise or not depends upon how many other tradelines you have. How many other accounts do you have open?

I will say that when I've consolidated cards at BofA, it has never been an issue on their side and has been pretty trouble free.

[Anonymous]

If you have 2-3 other tradelines it likely won't hurt. Make sure couple of things 1) The new CL will be the total of the two accounts. Also you may want to see if they will allow a CL increase at same time. 2) See if they will let you keep the 1.99% interest on the BT. If so there is no need to wait to consolidate. 3) Preferably you will be keeping the older TL active as this maximizes your average account length. 4) You will want to ensure you have 2-3 additonal TL and that after consolidation 50% of your TL have a $0 balance. While all of the above doesn't have to happen that would be optimal.

[Anonymous]

Thanks for the advice.  I have 13 tradelines open; however, not all have balances. 

I believe I would do best just leaving them as they are and once the 1.99% bt ends in December, 2008, I will consolidate them. 

SandyK