Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!


Posted in Credit Cards
Profile Image

Question By

0 Contributions
0 People Helped
I have a large limit that I want, but it is on a card a do not want
I currently have 3 open credit cards. One is a Kay jewelers card with a zero balance and $7600 limit (4 years old). The next is a MasterCard with a zero balance and a $2500 limit (3 years old); and the last is a Visa with a $3400 limit and is basically maxed out (1.5 years old). Ideally, I would like to cancel my Kay card to free up some of that money, open a new card, and transfer the $3500 balance to it. I would imagine that just cancelling the Kay card would not automatically mean I would be approved for that amount through a major creditor, and that is my oldest card so I don't know if it would hurt more than help. I would almost be willing to take a small hit to my score just to be able to transfer the $3500 to a card with 0% interest on transfers, which would allow me to pay it off sooner and hopefully gain back whatever hit I would take. Another obvious reason to close the Kay card is that I can only use it on jewelry. They do report to the credit bureaus and it does help my low utilization percentage, I am jut not sure it is worth it.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.


Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.