Do credit card companies communicate with each other if there is no credit check or limit increase?
Credit card companies do account reviews where they pull soft inquiries on your credit reports to see how you are handling your credit accounts. If you default on those two cards, those creditors will report the lates/defaults. The creditor with the card you are keeping will notice. They may take adverse action or they may not. Much depends on the creditor and your complete credit picture. If they do take adverse action it could be in the form of higher interest, decreasing your current credit limit or in extreme cases it could be account closure. If they do take adverse action and raise your interest or decrease your credit limit, you may have to live with it for around 6 months, or so, until you have proven to them that you are continuing to take care of that particular credit card. After 6 months you can try to get them to lower your interest and/or raise your credit limit. If you are planning to file bankruptcy, you may be able to keep that one card but it will have to be at a zero
