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Have a credit card with crappy rewards but a high limit. If I cancel it, will a better card let me raise the limit? (self.personalfinancecanada)

submitted 1 month ago by otp to c/[email protected]

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I have 3 credit cards...

Oldest, good for groceries, but that's it. It represents about 45% of my total credit card limit.
Crappy card, used to have good rewards but now sucks. This is about 40% of my total credit card limit. A few years old. I use it once every few months to keep it active.
My current "best" card that I use for most things. Only had it about a year. Represents around 15% of my total credit limit, but I'd like it to be more as it has the best rewards.

I pay off all my cards twice a month and have a great credit score.

I'm wondering if there's any drawbacks to cancelling my crappy card and either applying for a limit increase on my good one or just applying for a new/better card.

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[–] otp 2 points 1 month ago

Thanks for the tips!