Consolidation & Score Effect

Discussion in 'Credit Talk' started by Mark LA, Jul 1, 2002.

  1. Mark LA

    Mark LA Well-Known Member

    Has anyone had any experienve with card consolation and its effect on scores?

    My example: I have 8 ccs. Two are from Bank of America and two are from Amex. If i consolidated the bofa and amex cards into one card each (leaving me with 6 ccs - with a higher cl on the bofa and amex cards) would this raise, lower or have no effect on my score?
    Thanks in advance if anyone has any info.

    Mark LA
     
  2. wolverine

    wolverine Well-Known Member

    I did the same thing recently. No appreciable difference in score though. I think TU will give you a bump because you'll have less revolving accounts open, that's a good thing if you have more than two cc's. Just make sure you keep the older lines open.
     
  3. Mark LA

    Mark LA Well-Known Member

    Thanks Wolverine.
    TU is the only one that gave me the "too many balances on too many revolving acounts" as a number 4 reason.
    Of course - on the other hand - how important is TU as compared to Ex and Eq?
     
  4. whyspers

    whyspers Well-Known Member


    I guess that would depend on whether or not the place where you were applying for credit pulled TU or EQ/EX...lol. :)


    L
     
  5. Mark LA

    Mark LA Well-Known Member

    true :)
    it's actually because it just bugs me that my tu score is so much lower than my ex and eq scores - even tho they are all reporting the same info!

    Ex: 696
    Eq 682
    TU: 622 WTF
     

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