I just opened a new credit card because it gives me better cash back on the things that I purchase. However, it has a credit limit that is only 1/3 of that of my existing card. Just before I got the new card, I was invited to increase the credit limit of my old card, which I did. However, I'd rather have the increased limit on my new card, and when I applied for an increase there, it was denied because of my income. Both cards are through the same company, but one is handled by Visa (old) and the other by Mastercard (new).
Is there any way to increase the limit on my new card while simultaneously decreasing the limit of my old card, maintaining the same total credit line?
If so, will this for some convoluted reason lower my credit score?
So I called my credit card company, and they told me they do not do credit limit 'transfers'. They will not take credit limit from one card and move it to another. They said the only way that I would be able to do this is by requesting a credit limit decrease on one card, and once that goes through, try requesting an increase on the other card. However, they said there's no guarantee that the increase would go through on the other card, even though my total credit limit/line would be staying the exact same. Sometimes I just scratch my head....