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Credit Access Lines and credit

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Anonymous
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Credit Access Lines and credit

I currently have the following cards:
- Chase World MasterCard Flexible Rewards (for 6 years) ($5,500 line)
- Bank of America Platinum Visa Power Rewards (for 1.5 years) ($2000 limit)

And I am interested in the Fidelity Investment Rewards Visa Signature WorldPoints card because it deposits $75 on 5000 points into my Fidelity account, whereas both my other cards are $50 on 5000.

I have zero balance on either card, and my credit is generally good. Would it hurt my credit history (and/or FICO score) to add this card and use it as my primary?

I am inclined to cancel the BoA card because I don't really use it, but I have read that both the World MasterCard and Visa Signature use a "revolving credit access line", which I heard does not count as a credit limit and therefore affect my score. If I get the Fidelity card and cancel the BoA, both my cards would be of this type.

Can someone please clarify all this for me and offer some sound advice?
Thank you so much, in advance!
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1 REPLY 1
Anonymous
Not applicable

Re: Credit Access Lines and credit

Well, i would NOT recommend closing your bofa card since you only have two accounts. Unless it has an annual fee just use it every 2-3 months (should be able to get CLI from bofa every 4 months or so too).

 

Also have you seen the schwab card, also a FIA(bofa) card that gives $50 for 2500 points (2%)

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