Will this impact my credit score?

[pantherlj]

we have great credit rating and plan on moving within a year.

I have a Disney credit card that I have been using to get Disney Dollars so use it a lot and (for the most part) pay off in full every month. (Yeah, I get that the interest I pay wipes out the value of the reward but sometimes you gotta do what you gotta do). This fall will probably be our last trip to Disney for a while so I want to switch to using my Amazon reward card.

Both are Chase Visa. Disney has about a $15K limit but the Amazon one only has about $1500.

What's the best way to increase my limit on the Amazon card and reduce the limit on the Disney card with least impact to my credit rating.

 

[kathie859]

You pay no interest if you pay in full monthly

You need to call both lenders to request firstly, the increase and, if it's granted, call the other to request the line be lowered.

The impact to your CBR should be minimal if any at all.

 

[ready123go]

we have great credit rating and plan on moving within a year.

I have a Disney credit card that I have been using to get Disney Dollars so use it a lot and (for the most part) pay off in full every month. (Yeah, I get that the interest I pay wipes out the value of the reward but sometimes you gotta do what you gotta do). This fall will probably be our last trip to Disney for a while so I want to switch to using my Amazon reward card.

Both are Chase Visa. Disney has about a $15K limit but the Amazon one only has about $1500.

What's the best way to increase my limit on the Amazon card and reduce the limit on the Disney card with least impact to my credit rating.

You don't say if you have a specific reason to get your Disney limit reduced. I can't think of any situation where that would be beneficial. I wouldn't reduce my Disney limit. Here's why - when credit scores are figured, they a calculated on the ratio of debt to credit limit. Assuming you have little or no balance, the larger your credit limit, the better you look. If you ask for a reduction, that will impact your score negatively. Maybe not a lot, but negatively, nonetheless. If you are trying to avoid temptation - just hide the card!!

If you have had the Amazon card for a while (say maybe a year or so) you can always ask for the limit to be raised. Again, you will look better to Chase (and therefore they will be more likely to honor your request) if you have no balance and a larger limit. Even if you ask for the limit to be raised, it will be a somewhat slow climb (another reason not to reduce your Disney limit).

If you are looking to get a housing loan when you move in a year, ask for the limit to be raised now. It begins to look bad if you ask for the limit to be raised just before applying for another loan.

Hopefully this makes sense...

 

[phred52]

Since both cards are Chase Visa cards, call the 800 # from the back of one of the cards and ask to move 'whatever' amount credit limit from one to the other. I did just this when we got the Chase southwest visa and began to use that as primary instead of the Chase Disney visa.... it was moved from one to the other pronto, no problem.

 

[cvjw]

Since both cards are Chase Visa cards, call the 800 # from the back of one of the cards and ask to move 'whatever' amount credit limit from one to the other. I did just this when we got the Chase southwest visa and began to use that as primary instead of the Chase Disney visa.... it was moved from one to the other pronto, no problem.

I second this. I just closed a Chase credit card, and the agent asked if she could move the amount of credit from the closed card to the Chase Disney visa that we also have. I had no idea they even did this - I didn't ask for it, but I took it.

 

[zurgswife]

I have also transferred credit amounts from one Chase card to another a few years ago. Call the 800 number and ask.

 

[Interpol]

we have great credit rating and plan on moving within a year.

I have a Disney credit card that I have been using to get Disney Dollars so use it a lot and (for the most part) pay off in full every month. (Yeah, I get that the interest I pay wipes out the value of the reward but sometimes you gotta do what you gotta do). This fall will probably be our last trip to Disney for a while so I want to switch to using my Amazon reward card.

Both are Chase Visa. Disney has about a $15K limit but the Amazon one only has about $1500.

What's the best way to increase my limit on the Amazon card and reduce the limit on the Disney card with least impact to my credit rating.

Leave the credit limit on the Disney card alone and request a credit increase on the Amazon card. You don't want to be noticed increasing your limit on too many cards at once or it raises suspicion, but you also don't want to lower your limit if you don't have to because it increases your balance to limit ratio, which negatively impacts your credit score.

 

[disneyfreakk]

If you ask for a credit increase from Chase it will cost you a hard inq and they will likely give you a very small increase.

If you need a bigger limit, ask them to move the credit limit from disney to Amazon.

 

[ready123go]

Since both cards are Chase Visa cards, call the 800 # from the back of one of the cards and ask to move 'whatever' amount credit limit from one to the other. I did just this when we got the Chase southwest visa and began to use that as primary instead of the Chase Disney visa.... it was moved from one to the other pronto, no problem.

I didn't realize this could be done. Very cool.