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hnr949
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Combining credit limits on 2 USAA cards?

Postby hnr949 » Wed Feb 29, 2012 1:13 pm

First off, I have an AMEX card issued by USAA.. I currently have a $10k limit on this card. I also have a World Mastercard from them as well with a limit of $7,500.

My question to you pros out there is if it would affect my credit adversely if I ask them to roll both balances and limits of the cards into the AMEX and eliminating the world card.

Some people are saying that yeah, if I want a higher CL I can ask them to roll it over... But I am thinking it over and that would mean I am closing the world account, thus affecting my credit "history"? let me know what you guys think. What are the real pros and cons of doing this?

Thank you kind sirs.


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PlatinumAMEX94
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Postby PlatinumAMEX94 » Thu Mar 01, 2012 3:19 am

hnr949 wrote:First off, I have an AMEX card issued by USAA.. I currently have a $10k limit on this card. I also have a World Mastercard from them as well with a limit of $7,500.

My question to you pros out there is if it would affect my credit adversely if I ask them to roll both balances and limits of the cards into the AMEX and eliminating the world card.

Some people are saying that yeah, if I want a higher CL I can ask them to roll it over... But I am thinking it over and that would mean I am closing the world account, thus affecting my credit "history"? let me know what you guys think. What are the real pros and cons of doing this?

Thank you kind sirs.


Why do you want to do this? Do you need to have $17,500 a/c on one card? You could just ask for a higher credit line, but if you are not needing to borrow the money, then what is the point? Just so you can say you have lots of credit?

To answer your question, this is a very bad idea, if they would even let you combine a MasterCard and an American Express. You need to have diversity in your credit profile, with multiple lines of credit, revolving, charge, installment, & mortgage. Decreasing the number of open accounts is not usually a good move.

People apply for credit for a variety of reasons, some good, some bad. Most people apply for credit when they can't afford to purchase it outright, and need to finance it over a period of time; like a car.
American Express Platinum Personal, Member since 94
Chase United Explorer - Visa Signature
Chase Sapphire Preferred
American Express Business Simply Cash

American Express Costco Business, American Express Platinum Business
Bank of America 10k, Capital One Venture World MasterCard 7.5k, Fidelity Visa Signature 10k
Citibank ThankYou Premier World MasterCard - Card Member since 91, 25k
Discover 10k Member since 91, Wells Fargo Personal & Business Visa Signature
USAA World MasterCard 12k, Chase Slate Exclusives Visa 5k

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jeffysdad
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Postby jeffysdad » Thu Mar 01, 2012 6:39 am

I've done what you describe several times with no adverse effect whatsoever. Sometimes credit lines at the same institution can be combined, sometimes they can't. Before you combine, I would ask for a higher credit limit, as suggested above, if one can be obtained without a hard pull on your credit report.
American Express: Blue Cash Preferred (groceries, 6%; gas, department store, 3%); Gold Delta SkyMiles (Delta Air Lines, 2 miles/dollar, free checked bag).
US Bank: Cash+ (utilities, phone, internet, restaurant, 5%; drugstores, 2%).
FIA Card Services: Fidelity Amex (everything, 2%); Fidelity Visa (everything, 1.5%).
Chase: Freedom (rotating, 5%); Amazon (Amazon.com, 3%); PriorityClub (IHG hotels, 5 points/dollar); Sapphire (not in use).

*All cards are registered with PriorityClub IDine program for 8 points/dollar at participating restaurants.

hnr949
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Postby hnr949 » Wed Mar 07, 2012 9:55 am

Thank for the advice you two. I think I'll just sit it out and let them do the automatic increase overtime.. I'm paying off a motorcycle off this year anyways so I need that extra card to have some revolving line of credit to pay here and there to maintain/increase my credit over time.



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