Can I Move My Current Credit Card to a New Bank or Get Current Limit Increased by Closing The Other Cards?

Lthefakeemailguy on 12/10/2024 - 22:53

I’m looking for some advice regarding my credit cards. I currently have two cards:

ANZ Platinum - $6,000 limit
BankSA Platinum - $6,000 limit

I’m on a 4-year work visa in Australia and was wondering if it's possible to close either of these cards and apply for a better card with a higher credit limit at either ANZ or BankSA, instead of paying fee for both cards?

If anyone has experience with this process or can provide tips on how to improve my chances of getting a better credit card, I would really appreciate it!

Thanks in advance for your help!

Financial Credit Card

Comments

  • AdosHouse on 12/10/2024 - 23:13
    +4

    Of course it's possible. Whether you get approved for a new higher limit card is something none of us can answer.

  • Iwantthebestprice on 13/10/2024 - 00:19
    +1

    $6K limit sounds like you were approved for the minimum amount. So I doubt if you close these accounts you would automatically get a higher limit with one credit card. You would need to close both cards and leave them closed for a few months then apply for a higher credit limit.

  • keji on 13/10/2024 - 10:02
    +1

    If you have a good credit history, choose one of the higher limit products from the either ANZ or Bank SA. Then close the card from the other bank. Wait a month to reflect on the credit reports (check via ClearScore or Finder) and once they've dropped off, apply for the higher limit one. If you're on $60K+ and can show that you have $600 a month spending money, after expenses you should be able to get a ANZ Qantas FF Black. That said, I'm not a CC assessor.

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