Advertisement
If you have a new account but are having problems posting or verifying your account, please email us on hello@boards.ie for help. Thanks :)
Hello all! Please ensure that you are posting a new thread or question in the appropriate forum. The Feedback forum is overwhelmed with questions that are having to be moved elsewhere. If you need help to verify your account contact hello@boards.ie

Combining 2 credit cards into one

Options
  • 06-06-2009 11:31pm
    #1
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭


    I have 2 credit cards from the same company. Both are Visa also.

    One has €500 limit. The other has a €1500 limit.

    The €500 card has €400 used on it. The €1500 card has €1300 used on it.

    I'd like to combine both of these cards into one i.e. one €2000 card with €1700 used on it.

    The bank are telling me I have to clear one of the cards before I can combine them.

    Is there any real practical reason for them doing this? From what I can say I have the same rates on both cards.

    Thanks


Comments

  • Options
    #2
    Dabouche
    Registered Users Posts: 33 ✭Dabouche


    I reckon if you apply for a limit increase or clear some of the balance on the credit card with the larger balance so that you have avaliable funds to cover the 400euro on the other previous card, then your bank will allow to transfer over the balance of 400euro to the card with the larger limit. you should check aswell and see if your bank does a special rate on balance transfers as well.


  • Options
    #3
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    I'm using small amounts in my example.

    Say one card is €2000 and is maxed out and the other is €1000 and is maxed out.


  • Options
    #4
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    I guess my main problem is that I can't see why they wouldn't do it.

    Combing the debt and limit on both cards into one card. There's no extra for the bank to manage, nothing for them to lose out on?


  • Options
    #5
    Davy
    Registered Users Posts: 19,340 CMod ✭✭✭✭Davy


    Random wrote: »
    I guess my main problem is that I can't see why they wouldn't do it.

    Combing the debt and limit on both cards into one card. There's no extra for the bank to manage, nothing for them to lose out on?


    They would just get one monthly minimum from you, but that's only €6.35 instead of €12.70 which would be a stupid reason. You will be stung for for the €30 on both cards, so switch to a card provider that will help you!

    (and sorry if im not allowed post in here :p)


  • Options
    #6
    unclebill98
    Registered Users Posts: 3,816 ✭✭✭unclebill98


    Dabouche wrote: »
    I reckon if you apply for a limit increase or clear some of the balance on the credit card with the larger balance so that you have avaliable funds to cover the 400euro on the other previous card, then your bank will allow to transfer over the balance of 400euro to the card with the larger limit. you should check aswell and see if your bank does a special rate on balance transfers as well.

    The only way to transfer one amount to another card is via cash transfer. This is pointless as the charge for the cash advance can often by over 22% on some cards.

    Surf over to another banks credit card and simply apply to have both balances transferred over. Most CC applications have space for up to 3 CC/Store Card transfers. Some banks are no longer offering 0% on Balance transfer, but the rate is under 5% so its still good value for money.


  • Advertisement
  • Options
    #7
    Random
    Closed Accounts Posts: 19,080 ✭✭✭✭Random


    I guess in my case it's more a case of just putting things in one place rather than over 2 cards. There's no other real reason or motives behind it.. just easier to manage one monthly repayment rather than keeping an eye on two ..


Advertisement