Combining BofA Cards

[sddykstr]

Hey Everyone, 

I've got a BofA Cash Rewards card with 4.8k / 7k limit that I'm working on paying off. I also have a no frills low APR BofA with $0 / $3k limit. I'd like to combine the two somehow, but the lower limit card is my oldest card.

I asked on CS Chat if there was any way they could combine, but the best they said was transferring the credit limit from one to the other. I'd really like to retain the open date of my lower limit card, but lump it into my higher limit card. Anyone have any experience with this?

Thanks.

[linux007969]

Why not transfer your limit from your cash rewards into your no rewards card, and then convert it into a Cash Rewards Visa Signature?

[sddykstr]

Yeah i asked about that, but I can only do that once both are paid off. Apparently they don't allow balance transfers between cards.

i may have to wait until it's paid off in March.

[linux007969]

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@sddykstr wrote:

Yeah i asked about that, but I can only do that once both are paid off. Apparently they don't allow balance transfers between cards.

i may have to wait until it's paid off in March.

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Unless you happen to bank with them, if your willing to pay a small fee of maybe 3% or 4% use one of the checks they may be sending you and write yourself a check and deposit it, and then once it posts then pay off the card.

[sddykstr]

i actually do bank with them, but the whole idea here was just to have one card for the sake of convenience. Probably not worth the fee, so I may just have to wait.

[linux007969]

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@sddykstr wrote:

i actually do bank with them, but the whole idea here was just to have one card for the sake of convenience. Probably not worth the fee, so I may just have to wait.

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Oh i see. Well then sounds like you would have to just wait it out, unless you are able to move expences around or cut something to put more money toward paying down the card quicker, but sometimes that's not an option.

[Creditaddict]

BofA will do hp before moving cl's too!! Super annoying to requalify basically for what they previously approved you for

[SunriseEarth]

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@sddykstr wrote:

Hey Everyone, 

I've got a BofA Cash Rewards card with 4.8k / 7k limit that I'm working on paying off. I also have a no frills low APR BofA with $0 / $3k limit. I'd like to combine the two somehow, but the lower limit card is my oldest card.

I asked on CS Chat if there was any way they could combine, but the best they said was transferring the credit limit from one to the other. I'd really like to retain the open date of my lower limit card, but lump it into my higher limit card. Anyone have any experience with this?

Thanks.

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I think you should move the older CC's CL into the Cash Rewards.   You'd be able to use it for better rewards and you'd have better UTIL, for sure.  If you close the old CC, it will stay on your CRs for 10 years, so you're not losing AAoA (at least not until it falls off your reports in 10 years)

[efranklin23]

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@Creditaddict wrote:

BofA will do hp before moving cl's too!! Super annoying to requalify basically for what they previously approved you for

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+1 Be aware of this. BofA is known for this. And i'm not sure if you can move the limit to another card and get the date of the older card unless the card you're transferring to is in fact the older card. There's no backdating for BofA

[sddykstr]

Thanks for the tips everyone.

i got my no frills card PCd to a Cash rewards, so I have two Cash rewards cards now. I'll have the one with a balance paid off in a couple of months at which point I'll combine onto the older card and take the HP. I'm not planning on any other inquiries soon, so it shouldn't make a difference.

Thanks everyone!