Hello kind loving board members A question for da experts: my oldest tradeline is Bank of America Classic Visa - cl 6K (age 4.5 yrs) i have another card from BoFa - a Plat MC - cl 12K (age 9 months) would it help me - score wise - to combine the two? If yes - if I take the 6K from my oldest tradeline and close it and transfer the cl to the newer Bofa MC Plat - for a total of 18K - am I shooting myself in the foot for closing my oldest tradeline? Or perhaps visa-versa - transfer the 12K from the Plat MC to the Classic visa? Whattaya y'all think? Thanx in advance for any input Mark LA P.S. One of my considerations for doing this - after reading doc's recent post - is that I have 8 active cards - and it might be time to bring it down a bit.
I would combine the two accounts so you can reduce the amount of cards you have. Keep your Visa account open since it is your oldest account. Ask BofA to upgrade your Visa classic to a Visa platinum since your credit line is over 5k.
thanx jr! that's what i was thinking also. quick question - do you think i should wait til the Bofa Plat is one year old? I think someone said here to wait a year before closing an account.
I definitely agree with every one about combining the two and keeping the oldest one, especially considering the age difference of the two accounts.
I read somewhere in previous post that closing the account before 1 year of history really won't make a difference. Once an account reaches 3 years of history then you get the maximum fico points for that account. You could wait 3 more months so your account will be 1 year old for peace of mind. I would wait the 3 months and then do the combination. Good luck.
thanx jr, the other I'm just gonna go ahead and do it - I doubt the one year old thing actually makes a difference.Thanks again for your input.
