I have few US Bank credit cards. Platinum Visa was opened in 2006 which was replaced with US Bank Perks+ Visa Signature in 2012. Because there are no rewards on this card, and it is not much use, I decided to transfer some of available credit limit to US Bank Edge Cash Visa Business which gives me 3% cash back on gas purchases, phone payments, office supplies, and 1% cash on any other purchases.
Making a request
To transfer credit limit, it is necessary to make a request. I spoke with a manager at a local US Bank branch who contacted credit cards underwriting department about my inquiry. Underwriter confirmed it is possible to make such transaction.
Understanding credit limits
US Bank Cash+ Visa Signature Card
The card from which I planned to make a transfer has to have minimum $5,000 credit limit. Everything on top of that could be moved to the other credit card.
US Bank EDGE Cash Business Card
The card to which I wanted to do the transfers must have up to $25,000 credit limit to avoid credit inquiry. Otherwise, the credit card processing department has to check your credit history.
Limitations with two people on credit card account
Initially, I planned to transfer credit limit from US Bank Cash+ Visa Signature Card, but was informed it is impossible to do because there is other person (my wife) added to that account. If you have two or more people on the same credit card, US Bank will not transfer credit limit from such accounts. It is possible to remove other person(s) from the credit card, but such step might hurt credit history of that individual. I opt to keep my wife on the credit card account, and just use the other card for the transfer.
In a couple of days after the request, the credit limit on my cash back business credit card was increased by requested amount, and the available credit line on my visa signature card was decreased by the same number.
It is a very simple process to transfer available credit limit from one US Bank credit card to another. Some banks do not offer such transactions, but US Bank do.