Closing accounts by shifting credit line

[D93]

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.

i tried closing and moving all the CL at the same time, but he told they must leave $500 on it

[AnonymousUser]

i tried closing and moving all the CL at the same time, but he told they must leave $500 on it

Idk, but i did it. Did you call CS, retention, or lending services?

[D93]

Idk, but i did it. Did you call CS, retention, or lending services?

i called the regular CS number on the back of my card. I'll try the other numbers tomorrow. thanx for your help guys!!

[TimT]

i called the regular CS number on the back of my card. I'll try the other numbers tomorrow. thanx for your help guys!!

Don't sweat over it. Losing $500 CL won't make a dent on your CS. Next time you open a new card, you'll increase your CL anyways.

[D93]

Update. I called and asked to get transfered to lending  services, and he was able to move my entire credit line over without needing to leave $500 on it, and shut it down. Thanks Alot @AnonymousUser!

[hollawood24]

Chase does not MAKE you leave anything, as long as you PAY THE AF or w/e balance you have.

Just last month i was hit with MPE and Club AF (95 & 395 respectively).. I tried to cancel the card without paying the fee and they said sure, but they wouldn't shift full CL.. I then paid the AF on both and after a few days i was able to shift the full CL's and close the cards.. The AF then got credited back to those closed accounts, at which time they gave me the option to get a check, have it deposited in my acct, or statement credit to another card (i choose the latter).. This whole process took a week at most, so it's well worth it IMO.

Hope this helps!

[D93]

Anyone's personal experience of shifting a CL with Barclays onto a different card, for example m&m onto arrival?

[Boruch999]

Anyone's personal experience of shifting a CL with Barclays onto a different card, for example m&m onto arrival?

Have done it twice to get a new card approved. I assume you want to know about shifting between two open cards.  I  am interested in the same.

[AnonymousUser]

Update. I called and asked to get transfered to lending  services, and he was able to move my entire credit line over without needing to leave $500 on it, and shut it down. Thanks Alot @AnonymousUser!

Your welcome. Good to hear that it worked.

[Joe4007]

Anyone's personal experience of shifting a CL with Barclays onto a different card, for example m&m onto arrival?

Just did it on Friday.

[mawmaw]

Have done it twice to get a new card approved. I assume you want to know about shifting between two open cards.  I  am interested in the same.

done it twice

[D93]

Just did it on Friday.

done it twice

thanx

[@Yehuda]

Will Chase let you shift CL from a business card to a personal card? (If it matters - this is why closing down the business card.)

[noturbizniss]

Will Chase let you shift CL from a business card to a personal card? (If it matters - this is why closing down the business card.)

Not ime

[MC]

Will Chase let you shift CL from a business card to a personal card? (If it matters - this is why closing down the business card.)

If you want to rely on the word of reps, multiple ones have told me they'll do personal to business but not vice versa.

[Centro]

Will Chase let you shift CL from a business card to a personal card? (If it matters - this is why closing down the business card.)

Yes ime.

[@Yehuda]

Thanks guys. Good to know it's YMMV as usual.

[@Yehuda]

AMEX just told me that to close and account and shift the CL to another card, they may pull my credit. They started asking Q's like what's my income, and I stopped them and asked if she was about to pull my credit - to which she said, "we may have to".

Is that normal? I'd rather lose the CL than have them do a pull.

[TimT]

AMEX just told me that to close and account and shift the CL to another card, they may pull my credit. They started asking Q's like what's my income, and I stopped them and asked if she was about to pull my credit - to which she said, "we may have to".

Is that normal? I'd rather lose the CL than have them do a pull.

Hard pull or soft ?
Wouldn't losing the CL affect your credit more than a pull ?

[@Yehuda]

Hard pull or soft ?
Wouldn't losing the CL affect your credit more than a pull ?

Not sure, but wasn't about to take a chance so I ended the call.

Well, I've been thinking about utilization ratio recently and here's my thoughts. Let's think of a random example:
Every month you let $1-2K of debt hit your statements (because you obviously pay off most of your bill before the statement date). Overall, between all your cards, you have $50K of CL. That means your utilization ratio for all your cards combined (yes I know the credit score factors in the ratio of each individual card as well) is 2-4%. If you close a card that has $5K of CL and you lose that CL, you now have $45K of CL between all your cards and you are still only letting $1-2K hit your statements each month, making your ratio 2.22-4.44%. How much of a difference is that really going to affect your credit score?

If your overall CL is $10K and you close a card and lose $3K of CL, then sure, it will make a big difference. But I assume that most of us in this game have much higher overall CLs.