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BooHooYoo1973

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Will combining several credit cards into one negatively impact credit score
I have abou t4 MC & Visa cards through the same bank. A couple have a higher limit, and a couple have relatively small limits. I have spoke to the bank and they said I could combine all of the cards into ONE account, and all of the limits would be combined into one Larger limit account. I would like to do this, BUT am worried that this would negatively impact my credit score. I don;t want to do anything that will negatively affect my credit score.

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You would have to ask the bank itself because it might affect your age of credit history. If you're going to have the same total limit and no additional perks or any bonuses, I'd not recommend it. Just to make sure, explain your situation to the bank and ask them if it is going to affect your score.

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There should not be much damage as you will be keep your total limits. With Fico scoring, closed accounts are still factored into "average age of accounts", and most lenders use FICO scores, so they are the important ones. Even if your score dips from doing this, the dip may be worth it for the convenience.

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