Author Topic: Closing accounts by shifting credit line  (Read 5736 times)

Offline bortunkm

  • Dansdeals Silver Elite
  • **
  • Join Date: Apr 2014
  • Posts: 65
  • Total likes: 2
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Miami Beach
Closing accounts by shifting credit line
« on: April 24, 2014, 12:37:52 AM »
I'm trying to close some accounts, and I'm aware that the best way to do it is to shift the credit line from the card you will close to another one which you will keep open.
My question is, they only let me shift part of the credit line which leaves some credit on the card which I want to close... if I close the card with that remaining credit line on it, would it affect my credit score?

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15792
  • Total likes: 7320
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Closing accounts by shifting credit line
« Reply #1 on: April 24, 2014, 12:38:43 AM »
No
Only on DDF does 24/6 mean 24/5/half/half

Offline bortunkm

  • Dansdeals Silver Elite
  • **
  • Join Date: Apr 2014
  • Posts: 65
  • Total likes: 2
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Miami Beach
Re: Closing accounts by shifting credit line
« Reply #2 on: April 24, 2014, 12:40:41 AM »
Even if there is a substantial amount of credit leftover on it?
$7000...

Offline CountValentine

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Mar 2013
  • Posts: 15792
  • Total likes: 7320
  • DansDeals.com Hat Tips -1
  • Gender: Female
    • View Profile
  • Location: Poland - Exiled
  • Programs: DAOTYA, DDF Level 3, 5K Lounge
Re: Closing accounts by shifting credit line
« Reply #3 on: April 24, 2014, 12:43:51 AM »
Closing a CC has little to no effect on your score in most cases.
Only on DDF does 24/6 mean 24/5/half/half

Offline Vosizderneias

  • Dansdeals Platinum Elite
  • ****
  • Join Date: Dec 2011
  • Posts: 411
  • Total likes: 3
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Miami
Re: Closing accounts by shifting credit line
« Reply #4 on: April 24, 2014, 03:41:14 AM »
Dan writes a lot about it, if you search the main site you'll get the best answer

Offline Good Times

  • Dansdeals Silver Elite
  • **
  • Join Date: Apr 2014
  • Posts: 89
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: brooklyn
Re: Closing accounts by shifting credit line
« Reply #5 on: April 28, 2014, 08:39:23 PM »
I just closed one amex card, the rep said she will transfer the credit (excluding $500 bc that's the minimum needed on a card), then i closed the card. the next day I get a letter that they are not moving bc card was not open for 13 months.
I called them the manager said he will reopen my card.
They gave me a hard pull! Then did not give me the card back! So now I need to wait three months for nothing!
I guess u win some u lose some!

Offline churnbabychurn

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2012
  • Posts: 7355
  • Total likes: 301
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: Lakewood
Re: Closing accounts by shifting credit line
« Reply #6 on: April 28, 2014, 09:04:47 PM »
A chatter told me today that the 13 months is a hard rule

Offline Super Speed

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2013
  • Posts: 4849
  • Total likes: 50
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Programs: SPG Gold, Hilton Gold, Hyatt Platinum, Marriott Gold, Hertz Presidents Circle, Avis First, National Executive Elite, Sixt Platinum.
Re: Closing accounts by shifting credit line
« Reply #7 on: April 28, 2014, 09:07:59 PM »

A chatter told me today that the 13 months is a hard rule
I believe so as well.

Offline @Yehuda

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Oct 2013
  • Posts: 9693
  • Total likes: 187
  • DansDeals.com Hat Tips 5
  • Gender: Male
    • View Profile
Re: Closing accounts by shifting credit line
« Reply #8 on: April 28, 2014, 09:11:22 PM »
13 months requires you to pay the AF on cards that had it waived for a year. Unless you can cancel after 30 days after it posts?

Offline Good Times

  • Dansdeals Silver Elite
  • **
  • Join Date: Apr 2014
  • Posts: 89
  • Total likes: 0
  • DansDeals.com Hat Tips 0
    • View Profile
  • Location: brooklyn
Re: Closing accounts by shifting credit line
« Reply #9 on: April 29, 2014, 08:03:18 PM »
13 months is a hard rule, meaning?
any way to get around it?

i guess if i open a new amex, then call reconsideration and tell them to shift credit from old card, is that a way to bypass the 13 months?

Offline Super Speed

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Jul 2013
  • Posts: 4849
  • Total likes: 50
  • DansDeals.com Hat Tips 4
  • Gender: Male
    • View Profile
  • Programs: SPG Gold, Hilton Gold, Hyatt Platinum, Marriott Gold, Hertz Presidents Circle, Avis First, National Executive Elite, Sixt Platinum.
Re: Closing accounts by shifting credit line
« Reply #10 on: April 30, 2014, 12:27:56 AM »

13 months is a hard rule, meaning?
any way to get around it?

i guess if i open a new amex, then call reconsideration and tell them to shift credit from old card, is that a way to bypass the 13 months?
If that's the way they'll approve you then you can.

Offline Miracle

  • Dansdeals Lifetime Platinum Elite
  • *******
  • Join Date: Dec 2012
  • Posts: 2318
  • Total likes: 5
  • DansDeals.com Hat Tips 5
    • View Profile
  • Location: Israel
Re: Closing accounts by shifting credit line
« Reply #11 on: April 30, 2014, 07:08:09 AM »
13 months is a hard rule, meaning?
any way to get around it?

i guess if i open a new amex, then call reconsideration and tell them to shift credit from old card, is that a way to bypass the 13 months?
meaning?

Offline D93

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2014
  • Posts: 8791
  • Total likes: 21
  • DansDeals.com Hat Tips 14
    • View Profile
  • Location: PHL - TLV
Re: Closing accounts by shifting credit line
« Reply #12 on: August 21, 2014, 09:09:11 PM »
i wanna close a chase card of mine, so i called to shift the credit line over to different card, and the CSR told me that they cant move it all over, they have to leave $500 on it. Anyone know of a way to get the whole thing moved over, or does everyone leave $500 CL on their chase cards when they close them?

Offline etech0

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 12863
  • Total likes: 3321
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: not lakewood
  • Programs: DDF
Re: Closing accounts by shifting credit line
« Reply #13 on: August 21, 2014, 09:12:15 PM »
FWIF they made me leave $1k
Workflowy. You won't know what you're missing until you try it.

Offline D93

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2014
  • Posts: 8791
  • Total likes: 21
  • DansDeals.com Hat Tips 14
    • View Profile
  • Location: PHL - TLV
Re: Closing accounts by shifting credit line
« Reply #14 on: August 21, 2014, 09:15:04 PM »
FWIF they made me leave $1k
on which card? Im trying to move off of my BA

Offline etech0

  • Dansdeals Lifetime 10K Presidential Platinum Elite
  • *******
  • Join Date: Dec 2013
  • Posts: 12863
  • Total likes: 3321
  • DansDeals.com Hat Tips 1
    • View Profile
  • Location: not lakewood
  • Programs: DDF
Re: Closing accounts by shifting credit line
« Reply #15 on: August 21, 2014, 09:17:21 PM »
on which card? Im trying to move off of my BA
Sapphire Preferred.
Workflowy. You won't know what you're missing until you try it.

Offline Joe4007

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2013
  • Posts: 4077
  • Total likes: 154
  • DansDeals.com Hat Tips 11
    • View Profile
  • Location: NY
Re: Closing accounts by shifting credit line
« Reply #16 on: August 21, 2014, 09:20:24 PM »
i wanna close a chase card of mine, so i called to shift the credit line over to different card, and the CSR told me that they cant move it all over, they have to leave $500 on it. Anyone know of a way to get the whole thing moved over, or does everyone leave $500 CL on their chase cards when they close them?
So how would this work, an open account with no CL

Offline D93

  • Dansdeals Lifetime Presidential Platinum Elite
  • *********
  • Join Date: Jul 2014
  • Posts: 8791
  • Total likes: 21
  • DansDeals.com Hat Tips 14
    • View Profile
  • Location: PHL - TLV
Re: Closing accounts by shifting credit line
« Reply #17 on: August 21, 2014, 09:22:15 PM »
So how would this work, an open account with no CL
so whenever people speak about shifting a CL before closing it down, they all leave something on it?
(be easy on me, this is my first time closing down CC's since i started playing!)

Offline Joe4007

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2013
  • Posts: 4077
  • Total likes: 154
  • DansDeals.com Hat Tips 11
    • View Profile
  • Location: NY
Re: Closing accounts by shifting credit line
« Reply #18 on: August 21, 2014, 09:30:38 PM »
so whenever people speak about shifting a CL before closing it down, they all leave something on it?
(be easy on me, this is my first time closing down CC's since i started playing!)
I believe so.

Offline AnonymousUser

  • Dansdeals Presidential Platinum Elite
  • ********
  • Join Date: Feb 2013
  • Posts: 3001
  • Total likes: 13
  • DansDeals.com Hat Tips 0
    • View Profile
Re: Closing accounts by shifting credit line
« Reply #19 on: August 21, 2014, 09:54:47 PM »
so whenever people speak about shifting a CL before closing it down, they all leave something on it?
(be easy on me, this is my first time closing down CC's since i started playing!)
Or you can close it and move all the CL at the same time. That's what I did. You might have to call lending services. I don't remember the number.