Combining Cards

[Anonymous]

I have had a secured Orchard card for the past 18 months the limit is not high at all it's only $200,but it has helped me out tremendously with re-building my credit. A few months ago I got an offer to apply for a traditional card with Orchard in which I did and I was approved. It doesn't have a very high limit either but it's a start and its a card I was not required to make a deposit on so I cannot complain!

My question is now that I have the traditional card should I close out my secured card? Or should I call to see about combinding the two cards together? Has anyone else done this before, if so did it effect your credit very much? If they do combine do they just add the two credit limits together?

Thanks for any responses or advice.

Have a great day

[Wolf3]

What other Credit Cards do you have?  What are your annual fees?     

[Anonymous]

I have a Capital One (no annual fee for a year) just got this one 1 month ago through preapproval ,

walmart card  $312 balance(18% interest),

Sam's Club balance $120 (21% interest),

Lowe's Card (no interest right now but I think it's 18.9%, balance is $0),

Hooters (not sure of interest have never used it, it is a joint account with my boyfriend he is primary on it),

Kay's Jewlers and Jarred's ($0 balances on both  21%) (got these to re-build credit)

Orchard (secured) Credit Limit $200 (interest is 18.99%) I believe have a $30 balance, have had for 18 months

Orchard (unsecured) 12.5% have had for 4 months

Thanks for your help

[Wolf3]

IMO, it is a little too soon for that.   Secured CL do not translate to unsecured CL, so you need a little time.

You did not mention annual fee on Orchard secured, but usually it is yearly.   I would wait 5 months, (right before annual fee) and then ask to combine CL and close the secured card.  

Or you might ask for a CLI on unsecured and to waive the fee on the secured.   At that point the only advantge to the secured card is that you can set you CL with a bigger deposit 

[score_building]

The other thing is, at least IME, if can kill those balances at high APRs until qualified for lower or can take advantage of zero percent offers, won't regret it.