Consolidating credit lines?

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DGenerateKane
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Consolidating credit lines?

Postby DGenerateKane » Tue Jul 26, 2011 6:33 pm

I was wondering if it was possible to consolidate credit lines between institutions. A google search only found one relevant article stating it was possible. But I just tried to consolidate credit into my new Freedom Card from Chase but the guy I spoke to said it wasn't possible. Is that true? I know credit card companies are plagued with CSR's with bad information, and I'm hoping that is the case here. My Freedom card has a measly $500 limit, the same my first credit card I opened 7 years ago. I have thousands of dollars between several cards that I will never use with them but would love to use with my Freedom card as well as any future cards I open.


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Mogul of Pineapples
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Postby Mogul of Pineapples » Tue Aug 02, 2011 11:58 pm

Hey DGenerateKane, unfortunately I have never heard of that being an option, but it would certainly be nice if it were. Now consolidating or re-allocating credit lines with the same institution is usually possible, but not between different institutions.

How long have you had your Freedom opened for? There's a good chance you will be able to build that limit up quickly.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

DGenerateKane
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Postby DGenerateKane » Wed Aug 03, 2011 4:02 am

I just got it. I consolidated my credit line from my Chase Flexible Rewards card that I haven't used in years nor wanted anymore (Used to be a WaMu card which was never used, and before that it was the Paypal card issued through Providian). I intended to keep it open with $100 credit line or similar, but when I was transferred to the appropriate department I was also transferred overseas and could barely understand the rep. Before I knew it she had closed the account. Oh well, my credit is excellent so I doubt it will affect it much for long.

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Mogul of Pineapples
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Postby Mogul of Pineapples » Thu Aug 25, 2011 12:42 am

but when I was transferred to the appropriate department I was also transferred overseas and could barely understand the rep. Before I knew it she had closed the account.


This goes for all credit card companies: What I recommend is whenever you are dealing with credit limits and/or inquiries, it's best to specifically request U.S. reps. With overseas reps mistakes seem to happen too often due to the language barrier and their misunderstanding of how the system fully works. Also do it during the day because those will likely be a better bunch than the people working the night shift.
Disclosure: I am a moderator/paid staff of this site, which does have advertising relationships with some credit cards that are discussed and linked to. Regardless, anything I say is my honest opinion.

Current Cards:
American Express: Blue Cash, Simply Cash Bank of America: WorldPoints Platinum Plus Chase: Amazon, British Airways, Cash Plus Rewards, Freedom, Ink Cash Citi: Thank You Premier, Dividend Platinum Select Discover: More
Primary Everyday Card: American Express Blue Cash
Primary Travel Card: Chase Sapphire Preferred

naomibatac
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Postby naomibatac » Thu Nov 03, 2011 6:23 pm

What I read from several articles on the Web is that a credit card counselor from a reputable counseling company can help you make a plan to consolidate your credit card accounts. I haven't tried it yet, but there are testimonies from people who have done it. All balances are consolidated into a single credit card by the services of a credit card counselor.
[size=60]I don't have any relationship to the credit cards or companies discussed here. I am solely a regular member of this forum with no direct financial rewards from this site. My opinions are solely mine.[/size]

A mom of 3 and currently living life, and working for credit card helpline, a company dedicated to helping people get out of credit card debt.

DavidNY
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Postby DavidNY » Fri Nov 04, 2011 11:25 am

Back around 1995 I had two Chase cards with pretty low limits, I called to consolidate the credit lines and Chase did it on the spot.



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