I have a Fred Meyer Jewelry credit card with a $2,400 balance and a $6,000 limit. I would like to transfer that balance to a new credit card with a much lower rate. On my credit report, the Fred Meyer card is listed as a "Charge Account" but with open terms. My question is, if i transfer that balance, will it essentially be a wash as far as total available credit to me, even though the FM card is listed as a charge account? I'm taking the balance off one card and putting it onto another so it should be a wash, retaining the same amount of credit available to me. The only thing that has me concerned is how the FM card is identified.
