For some people, it’s more practical to have one credit card with a high credit limit as opposed to having a few credit cards from the same issuer, with all of them having smaller credit limits.
Sometimes, reallocating credit limits can be a great tool. It can help you get more available credit on a card that has an intro 0% APR offer, and give you much more available money to borrow interest-free.
Here in this post, we will go through the list of major credit card issuers and their policies on reallocating / transferring credit limits.
Amex
- You can reallocate credit limits from personal to personal, business to business, and from personal to business cards. You cannot transfer from business to personal.
- Reallocating can be done on the phone or online. Here is a step-by-step guide for how to reallocate your credit limits online:
1. Click on Account Services
2. Click on Payments & Credit Options
3. Click on Transfer Available Credit To Another Card
- You cannot reallocate your credit limits more than once in 30 days.
- Reallocating credit limits with Amex will only result in a soft credit pull.
- If you want to leave the old card open (the one that you are transferring the credit limit from) then you need to leave over a min of $1,000 credit limit on that card.
Bank of America
- You can reallocate credit limits from personal to personal or from business to business.
- Reallocating credit limits will only result in a soft credit pull
Barclays
- You can reallocate credit limits from personal to personal, business to business, and personal to business. More recent data points suggest that you cannot transfer from business to personal.
- To reallocate balances with Barclays, you need to speak to the Credit Analyst Department.
- Reallocating credit limits will only result in a soft credit pull.
Capital One
Capital One is slowly introducing the ability to reallocate credit limits. Those accounts that are already eligible can reallocate credit limits by phone or online (Login / Services / Request account combination).
Chase
- You can reallocate credit limits from personal to personal or from business to business.
- Reallocating credit limits will result in a soft pull.
Citi
- Most report not being successful reallocating credit limits with Citi bank; some suggest talking to a supervisor or asking to be transferred to the Credit Analyst Department.
- Both cards will need to be open for six months.
- Citi will do a hard inquiry when reallocating credit limits
Discover
Discover mostly does not allow reallocating credit limits, but it can be done through first requesting a credit limit increase. After being approved, ask to speak to the Credit Operation Department to reallocate the credit limits. For whatever reason, once you get approved for a credit limit increase, reallocating credit limits becomes possible.
US Bank
Most report not being successful reallocating credit limits with US Bank; some suggest talking to a supervisor.
Wells Fargo
- You can reallocate credit limits.
- Reallocating credit limits will result in a soft pull.
I personally transferred big chunk of Barclay JB Personel to Barclay JB Business less then a year ago
Thanks. Will update post
Great article
Thanks!
chase sometimes have a limit on who much you could reallocate
I tried to transfer credit from my personal to business but they wouldn’t allow.
Which bank?
American Express
Can I transfer from a american express old business card to a new business card that I just opened?
Generally yes. but recently some people reported issues
Thank you
So is it better to wait 30 days from opening new Card or doesn’t make a difference?
I I just tried to relocate my credit limit on my Amex cards. But interestingly enough the website did not give me that option why is that? Is there anything I can do about that?