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Question By
ack314

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Combining credit card limits?
I have multiple cards from a single bank- some unused. I suppose I should close the unused ones, but would the bank allow me to combine the credit limits into one large one, or will I just lose the credit line amount of whichever card(s) I close out?

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You will lose both the credit lines and the history of any accounts you close, so if they are good accounts, keep them open; use them once or twice a year to keep them "alive".  If you are trying to get a higher credit limit, contact the creditors of the cards you have and see if they are willing to increase your limit.  You could also apply for a new credit card with higher limit, but without seeing your complete credit report, I can't say if that would help or hurt you.  Any time you apply for credit that is an inquiry, and inquiries do cause a small hit on your credit score.  But on the other hand, a higher credit limit would help your score.  Not an easy question to answer, sorry.  If you want more information, go to www.credit.about.com and do some reading.  Best of luck!

Reply by
ack314

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Helpful to 1 out of 2 people

I did apply for a new card with a higher limit but the limit wasn't high enough- I suspect because of all these other accounts... Which is what prompted me to ask this question in the first place!

Thanks.

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