I 'm about to switch banks. Can I transfer my line of credit, which is still in use at my old bank?

I have a credit line in use at my old bank. I'm about to switch banks, and want to know if its possible to transfer the amount on my current credit card to a new one at my new bank.|||yes. In your explantation you used the word credit card. If it is indeed a credit card you can always transfer a balance from one to the other. Depedening on your card provider, there may be a fee or an higher interest rate for such a transaction. If it is a revolving line of credit w/no card--probably you can not transfer the balance. My suggestion~%26gt; call the bank in the morning. duh|||No, you may not transfer a line of credit, unless you are just switching branch locations of the SAME bank. You will need to apply for a new one with your lending institution when you open your account.|||Hello there! More times than not, you won't be able to just transfer the line to a new bank. The new bank will need to qualify you based on your current financial position...





Keep in mind, most banks will offer a free "no cost" equity line of credit, but if you choose to close the line (or switch to a new bank) within the 1st 24 - 36 months you may be liable for the original closing cost paid on your behalf. This usually would be equal to around $1,000.





Hope that helps %26amp; feel free to email me if you have questions... I may have a better solution.





Warm regards,