Apply for Chase Sapphire Reserve? Downgrade CSP to Freedom or Freedom Unlimited?

[Anonymous]

Hey guys,

Exp: 802, Trans: 809, Equi: 799

I actually just requested a CLI for my CSP last weekend and bumped it up to 10k. So they did a HP for that. All the scores are currently post-HP.

CSP: 10k

USAA: 6k 

BoA: 2k (oldest account)

= 18k

My plan was to transfer about 7k from my CSP to the CSR and then downgrade the CSP to a Freedom/Freedom Unlimited (need help figuring out which one).

Should I even bother?

[Anonymous]

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@Anonymous wrote:

Hey guys,

Exp: 802, Trans: 809, Equi: 799

I actually just requested a CLI for my CSP last weekend and bumped it up to 10k. So they did a HP for that. All the scores are currently post-HP.

CSP: 10k

USAA: 6k 

BoA: 2k (oldest account)

= 18k

My plan was to transfer about 7k from my CSP to the CSR and then downgrade the CSP to a Freedom/Freedom Unlimited (need help figuring out which one).

Should I even bother?

I think you should just apply for the CSR and see what CL they give you. When I applied for it I had 9K CL on my CSP and they approved me for an additional $14K for my CSR (I had also applied and was approved for four other CC's that year so was at 4/24). I just recently downgraded my CSP to the Freedom Unlimited which is absolutely worth it. Just remember you need to have had the CSP for at least one year before they will allow you to downgrade it. I value the Unlimted over the Freedom as I use it for my everyday spending card that doesn't fall into a spending category. When you transfer these points to the Reserve, you essentially get 2 pts per dollar spend depending on how you redeem the points. 

[Anonymous]

I agree. Apply, get approved, then downgrade to the FU.

[Anonymous]

I went ahead and did it............

and got approved immediately!

20.9k SL which is great! Thanks, guys!

How do I go about transferring my CL and downgrading?

[Anonymous]

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@Anonymous wrote:

I went ahead and did it............

and got approved immediately!

20.9k SL which is great! Thanks, guys!

How do I go about transferring my CL and downgrading?

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Excellent, congratulations! Just call Chase and they'll take care of it for you, no need to go in branch (if you've had the CSP for at least a year). You may want to think about NOT transferring CL as I suspect you will actually use the FU more than the CSR as your everyday spending card. The only exception is if you are covering a TON of travel or dining every month. If you use your FU a lot and transfer the CL to the CSR your utilization on that card may end up quite high. 

[Anonymous]

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@Anonymous wrote:

I went ahead and did it............

and got approved immediately!

20.9k SL which is great! Thanks, guys!

How do I go about transferring my CL and downgrading?

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Very good starting limit.  Enjoy it...