Got a freedom card.

[nissanaltimacrazyhorse]

So i made a decision and im sticking with chase only so i have a sapphire preffered 5k limit for about 8 months today i apped for the freedom card got a 500.00 limit dont quite understand that I guess ill have to pay in full a couple times over the month. Ill be closing my other cards over the course of the year, i have amex bcp 2.5k and capital one venture 5k  

I picked chase for a couple reasons i can get max points each quarter with freedom then transfer to chase sapphire to use as airline miles, also ill be getting the checking account bonus.  I guess i apped too much don't know why chase only gave me 500.00 limit

[09Lexie]

Congrats on your approval. How many new accts did you open in the past 6 mos? How long have you had the Cabelas?

[armbenderc]

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@nissanaltimacrazyhorse wrote:

So i made a decision and im sticking with chase only so i have a sapphire preffered 5k limit for about 8 months today i apped for the freedom card got a 500.00 limit dont quite understand that I guess ill have to pay in full a couple times over the month. Ill be closing my other cards over the course of the year, i have amex bcp 2.5k and capital one venture 5k  

I picked chase for a couple reasons i can get max points each quarter with freedom then transfer to chase sapphire to use as airline miles, also ill be getting the checking account bonus.  I guess i apped too much don't know why chase only gave me 500.00 limit

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Call the recon line and ask for higher initial CL. When I applied for mine, it was Denied, I recon it to 2k. When I got the card, I recon it again and got 3.7k.

I told them I wanted to take advantage of BT, which I did and PIF lol, the card is now sitting at 4.7k (I never asked for CLI but got 2 auto).

Acct is 1 year old.

[09Lexie]

Keep in mind a recon for a higher CL will probably be another hp with no guarantee it will be successful

[Themanwhocan]

Its probably better to have cards from a variety of companies. If Chase detects some unusual activity and closes your cards, you will be pretty much up a creek if you don't maintain alternatives.

[nissanaltimacrazyhorse]

eh im not wanting to get another hp the cap one did 3 and i just recently bought a new car. Im going to be running  1k threw the card each month so is there a chance for auto increase or  do i have to wait 6 months to do a hard pull

[nissanaltimacrazyhorse]

if chase closes i will be out a credit card for a short while and ill have to apply somewhere else. Don't know why they would close my accounts though

[armbenderc]

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@nissanaltimacrazyhorse wrote:

eh im not wanting to get another hp the cap one did 3 and i just recently bought a new car. Im going to be running  1k threw the card each month so is there a chance for auto increase or  do i have to wait 6 months to do a hard pull

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I used it, but not heavily, then PIF. At 5 months, I got auto CLI. At 11 months I got my 2nd auto cli (couple months in there where I havn't used the card at all and sitting at 0 balance).

[nissanaltimacrazyhorse]

thats good to hear how much a bump did they give each time, 500 is not going to kill me, i almost always pay right after the charge posts.

[Walt_K]

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@nissanaltimacrazyhorse wrote:

if chase closes i will be out a credit card for a short while and ill have to apply somewhere else. Don't know why they would close my accounts though

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The accounts could be closed for any number of reasons.  Their fraud algorithms could go haywire and your accounts could be closed down even if by mistake.  They don't have to be closed either, they could just be suspended for a time while you are working through the issue.  Or it could be a temporary problem if Chase is having technical issues.  Not a bad idea to retain at least one no fee card from another lender.