Originally Posted by
shanna135
Currently have 5 BOA cards with a total CL of 42000. The card I'm going to cancel is a personal Alaskan Airlines card with a credit line of 18000. Just cancel? Transfer CL to other card? Usually I just cancel. Thanks for any insight.
You'll be at greater risk of being denied for your next card if you don't lower you CL
separately,
before you cancel.
That's because CL that's lowered while you still have the card becomes available to new applications within a few months at most, while CL that stays on the card when you cancel doesn't become available to new cards for over a year!
So I'd recommend lowering the credit limit from $18k to no more than $5k. That'll free up $13k for if not your next app, the one after that. Then wait
at least until you can verify the new lower CL online before cancelling, though to be safe I usually give it a week at least.
Transferring CL to another card won't help you any. You'll still have $42k with BOA, which risk your next card being approved for just $1500 CL or something like that. (Plenty of precedent for that in the Alaska Airlines card thread!
)