There are now 3 primary credit card issuing banks; Citibank, Chase and Bank of America (BoA). This has changed from literally hundreds just a few years ago. If you hold multiple credit card accounts from a single bank, this strategy is for you.
First, you should be tracking the balance transfer and cash advance offers that each card provides. If you’re not, it’s time to start with my downloadable spreadsheet.
Now, call customer support and have all your standard and affiliate accounts (Yahoo.com card, LL Bean card, AARP card, Buy.com card, etc) combined into the single card with the best rate, best transfer offer and/or best cash advance terms. Then, instead of having 10 cards with $3,000 credit line on each, you have 1 card with a $30,000 credit line. When you do finally take advantage of a cash advance or balance transfer you only pay a single cash advance fee…and you only need to keep track of a single card.
And remember, call customer service before you take advantage of any offer to be sure you’re getting the lowest rate available. Also, once you do take advantage of those low-rate offers, you must be vigilant about paying on time.