Greetings,

I am not a n00b at this and have been following the FWF for quite some time and have read a lot of information regarding BT's, AOR's, credit scores, etc. That's just to say that I feel this question might have been answered, but I can't find it in a search and am wondering how it applies in my situation:

I have about 25% of my total available credit lines used for BT's (no single line over 50%). I was going to cancel an AMEX SPG business card so as to avoid the annual fee and in anticipation of doing so I transferred the $24k credit line from the business card to my personal SPG AMEX which had $24k and then had $47k (you lose $1k that stays with the card, or so I was told). Well, after doing that I didn't cancel the card as I was in a hurry and forgot about it, when I got around to canceling it, they offered some starpoints to keep it, so I did. I then transferred the credit line back as I didn't want to look over exposed or dangerous as I was planning on applying for a mortgage. This was several months ago

I haven't gotten any score alerts from my WAMU credit watch (the free one with the credit card) but my score went from 765 (approx.) to 746 over a few months and only had a few inquiries (and one new AMEX charge card, not credit). Could this have been from the transfer of the credit line? If so, what did I do wrong and what should I do?

Thanks in advance,
B

b8b said:Greetings,

I am not a n00b at this and have been following the FWF for quite some time and have read a lot of information regarding BT's, AOR's, credit scores, etc. That's just to say that I feel this question might have been answered, but I can't find it in a search and am wondering how it applies in my situation:

I have about 25% of my total available credit lines used for BT's (no single line over 50%). I was going to cancel an AMEX SPG business card so as to avoid the annual fee and in anticipation of doing so I transferred the $24k credit line from the business card to my personal SPG AMEX which had $24k and then had $47k (you lose $1k that stays with the card, or so I was told). Well, after doing that I didn't cancel the card as I was in a hurry and forgot about it, when I got around to canceling it, they offered some starpoints to keep it, so I did. I then transferred the credit line back as I didn't want to look over exposed or dangerous as I was planning on applying for a mortgage. This was several months ago

I haven't gotten any score alerts from my WAMU credit watch (the free one with the credit card) but my score went from 765 (approx.) to 746 over a few months and only had a few inquiries (and one new AMEX charge card, not credit). Could this have been from the transfer of the credit line? If so, what did I do wrong and what should I do?

Thanks in advance,
BIf you've "been following the FWF for some time", you'd know that a 'few' inquiries and a new account will easily drop your score 19 points. Inquiries will generally cost you 3-5 points each, and the effect of a new account will depend entirely on the rest of your history (it could drop you 20 points by itself, or it could potentially increase your score). The only effect the reallocation would've had is to the extent it affected your utilization percentage, both on that single card and overall - less credit limit with the same balance means higher utilization.