5 credit cards into one?

Ebe_Scrooge

Himindoors70 said:

Clear as mud now..I can,t transfer credit only debt! Thanks all for your help.I will keep everything as it is.

Got it in one

Yep, you can always request an increased credit limit if you want to.  Halifax will assess you based on your credit history and will decide whether, and by how much, to increase your limit.  As Brie mentions, you're best to pay off your existing cards in full, close the accounts (don't just cut the cards up, this does nothing in terms of closing the account!), give it a few months then ask Halifax for an increase.

Zuzi

I suppose it's easy to misunderstand - a "balance" transfer could mean "available balance" 

I've never done one myself but balance transfers are mostly useful for people who don't want to pay too high an interest on their outstanding balance, and hence are looking to move the amount they owe onto a different card that hopefully charges a lower %. 

MrFrugalFever

I am not certain but worth checking, the capital one and ocean could be combined in to one card with both limits (choose the lowest APR card) as well as your newday cards.

Capital one certainly does allow combining 2 of their credit cards and limits in to one.

Either way your total limit is still going to stay the same unless you’re successful in being granted a credit limit increase.

I have the following;
Card 1 - £250 limit (my choice) - used for small online purchases for protection. If someone got my card details they’re hardly going to have a field day with £250.
Card 2 - £1,500 limit (max on card terms) - used for pre-auths in UK or larger online purchases
Card 3 - £5,000 limit - used for foreign transactions and low rate spending if I ever end up in a situation whereby I think I’ll need to pay a month or two of interest (15.4% APR)
Card 4 - £6,500 - used for almost absolutely everything (I don’t use debit card anymore unless a CC is not possible due to merchant rules or fees) - benefitting from Avios points.

Each credit card has a benefit/purpose for me. Do yours work for you?

gd55

Capital One does allow you to "merge" two credit cards you have with them. I have done it.
Just message them from your account in the website and tell them which card to close and which to keep open. 

Marchitiello

Now that we have clarified that the OP wanted to combined the credit limits from all his cards from different issuers into his new Halifax Card, and we correctly advised him as this is not possible we can still provide some advice so he could get there in the medium/long term.

you can often combine or move across  credit limits held on different cards issued by the same credit provider, so as some have alluded to, you could potentially merge the limits on your new day cards into one and your Capital One Cards into another. 

However, seen that Halifax is the most recent and only give you a £1000 limits, in my experience they may see you as already overly exposed (with the other credit limits and thus with too much available credit). In order to then get increased the Halifax Credit Limit you would need to do two things: close some cards and at the same time constantly use the Halifax card for your everyday spending and pay that in full every month. After a length of time (usually 6 months) you can ask Halifax to increase your Credit Limit with them, and the. Repeat.

With your 5 cards, I would initially keep the oldest card, the one with the highest limit and the one still with a carry over balance (assuming that are indeed three different cards) and then close the other two to start with.

once you get your first credit limit increase with Halifax, you could then try to close another card and repeat the above.

To complete then discussion, in addition to some of the suggestion you have already received early on in this thread you should note the following:

1- it is better to not have a carry over balance and then use the same card for everyday spending to be paid in full after each statement is produced. This will cause you to pay extra interest in most cases.

2- It is always advisable not to have all your financial product from one supplier like you aim to. as reported on this site too many times and reading all relevant posts, you could find yourself in a situation where for an unknown reason Halifax may want to stop all financial relationship with you, and/or suspend your accounts, and/or decide to take money directly from your other accounts to cover your credit Card debt.

So my final advice is that even if you continue seeking your current objective, you should aim to have at least a secondary Current Account and Credit Card (not from the Lloyds banking group of which Halifax is part of).