Would credit line transfer affect my FICO score?
I have a credit card with credit line of 5000 and another one with
credit line of 8500. When I called my credit card company to close the
second one (with $8500 credit line), I was suggested that this credit
line can be transferred to the first card (with $5000) before 2nd
account is closed.
2nd card was opened for 18 months and never been used once.
1st card was opened for 4 years and I use it regularly.
I do not have any outstanding balance.
Would credit line transfer affect my FICO score?
Would I be better off just by closing 2nd card instead of credit line
transfer and close?
The limit on 2 cards is 13,500. If you have the same 13,500 on one card
and its average balance is unchanged, there will be little if any effect
on your score. Possibly a small increase because your accounts are
older.
The important consideration is to keep your balance under half of your
limits. A third is even better.