Chase, AAoA, Closing account/CLI move, et al.

Pupeitmeister · ‎12-03-2013

I have a Chase slate from 2005. It has an $800. CL. (I know, sad right?). I did not know about CLI requests, etc etc until Oct 2013 when I found this wonderful site.

I was approved for a Freedom in oct 2013 with a 4k CL. The rep i called in the front office declined a bump over 5k on it, but did offer to move the balance of my slate over once i PIF.

I have a webbank/Dell card from 2004, Pays as agreed, closed in 2006 by grantor, when they needed to "reapply" for another dell card to get a CLI so i could buy my wife a new PC.

So .. my file says AAOA 12 years, If i close the Chase from 2005, and add it to my Freedom from 2013, to get to 4.8k CL, would this be something that sounded like a good idea?

OR

Should I leave the slate alone, sitting at a 0 balance (paying it in full tomorrow) so i keep the age of the card on my account and just ask for a CLI and possible BT 0% promo in a year (if i need the BT card still?)

current cards are:

Dell/Webbank , Opened 7/2006, 1900/2500 0% if paid in full by June 2014 PAA

Chase Slate , Opened 4/2005, 0/800 29.99% PAA

GECRB/ Carecredit, Opened 9/2011, 0/1500 PAA

Cap One NA Opened as HSBC sears mastercard 08/2011 880/1000, PAA, has been a daily driver due to they gave me QS rewards upon EO of CLI with no AF, will PIF within 45 days

GECRB/Sams Opened 4/2012, 1800/4900 PAA

GECRB /WM Opened 10/2012, 950/1200, 1 30day late, Jan 2013 (had gone 4 months with no paycheck due to medical, still trying to decide if i am going to GW this or not.

GECRB/ Lowes Opened 10/2013 just reconned to 3k limit. 22/3000, PAA

Chase Freedom Opened 10/2013, 3500/ 4000, 0% til Feb 2015, not stressing this Util atm.

2 Citi cards, one HD, one conoco Phillips Union 76 fuel card, both closed in Dec 2007, both PAA after having some issues that caused me to get assistance on them.

all baddies are set to fall off by Dec 2015, sporadically between now and then, and all baddies are paid to 0 balance. (I made some mistakes, time will fix that)

I plan to garden for at least the next 10 months or so, maybe even a year before i app for any more cards or LOC.

Will my AAOA get hurt by me moving the chase slate now enough to worry about it or should i just let it sit at a 0 balance and attempt a CLI on it to move to freedom and push freedom over the 5k hump? Or should I just go ahead and move it so that my Freedom is at 4800 for use as my new daily driver due to the CB rewards? (i am liking them so far).

Sorry for being long winded, I do not know how to word things sometimes... Any and all advice is appreciated. Even the "constructive criticism"

OFFICIAL GARDEN START DATE: 10-05-2014... TARGET GARDEN END DATE: 06-01-2016 Lets Git 'r' dun

jenn_bar · ‎12-04-2013

@Pupeitmeister wrote:
I have a Chase slate from 2005. It has an $800. CL. (I know, sad right?). I did not know about CLI requests, etc etc until Oct 2013 when I found this wonderful site.

I was approved for a Freedom in oct 2013 with a 4k CL. The rep i called in the front office declined a bump over 5k on it, but did offer to move the balance of my slate over once i PIF.

I have a webbank/Dell card from 2004, Pays as agreed, closed in 2006 by grantor, when they needed to "reapply" for another dell card to get a CLI so i could buy my wife a new PC.

So .. my file says AAOA 12 years, If i close the Chase from 2005, and add it to my Freedom from 2013, to get to 4.8k CL, would this be something that sounded like a good idea?

OR

Should I leave the slate alone, sitting at a 0 balance (paying it in full tomorrow) so i keep the age of the card on my account and just ask for a CLI and possible BT 0% promo in a year (if i need the BT card still?)

current cards are:

Dell/Webbank , Opened 7/2006, 1900/2500 0% if paid in full by June 2014 PAA
Chase Slate ,     Opened 4/2005, 0/800      29.99%    PAA
GECRB/ Carecredit, Opened 9/2011,   0/1500   PAA
Cap One NA Opened as HSBC sears mastercard 08/2011 880/1000, PAA, has been a daily driver due to they gave me QS rewards upon EO of CLI with no AF, will PIF within 45 days
GECRB/Sams Opened 4/2012, 1800/4900 PAA
GECRB /WM    Opened 10/2012, 950/1200,   1 30day late, Jan 2013 (had gone 4 months with no paycheck due to medical, still trying to decide if i am going to GW this or not.
GECRB/ Lowes Opened 10/2013 just reconned to 3k limit. 22/3000, PAA
Chase Freedom Opened 10/2013, 3500/ 4000, 0% til Feb 2015, not stressing this Util atm.

2 Citi cards, one HD, one conoco Phillips Union 76 fuel card, both closed in Dec 2007, both PAA after having some issues that caused me to get assistance on them.

all baddies are set to fall off by Dec 2015, sporadically between now and then, and all baddies are paid to 0 balance. (I made some mistakes, time will fix that)

I plan to garden for at least the next 10 months or so, maybe even a year before i app for any more cards or LOC.

Will my AAOA get hurt by me moving the chase slate now enough to worry about it or should i just let it sit at a 0 balance and attempt a CLI on it to move to freedom and push freedom over the 5k hump?   Or should I just go ahead and move it so that my Freedom is at 4800 for use as my new daily driver due to the CB rewards? (i am liking them so far).

Sorry for being long winded, I do not know how to word things sometimes... Any and all advice is appreciated. Even the "constructive criticism"

Yes and no, but there may be another option. The Slate is a great for balance transfers, but other than that it offers no rewards, so you are better off with the Freedom. Do you have a balance on it? If not, I would call Chase and ask them if they can product change into another Freedom (some CSRs allow this, other's don't, it's a YMMV situation). If they can do so, that would allow you to maximum x2 on the Freedom's quarterly rewards.

Otherwise, I would personally keep the card as it has $0 annual fee and is not doing any harm to have report each month on your credit report. I would take it out from time to time to make a random purchase so Chase doesn't close it for being dormant, but otherwise it will just help with your average age of accounts.

If you don't like having cards lay around like that, closing it is definitely an option. Like you mentioned, make sure to transfer your CL to the Freedom. It will remain reporting on your credit report for ten years so you will still benefit from it with your average age of accounts, but not after ten years.

The best offer would be to change it to a Freedom, but if not see options B and C. They are both good options in my opinion.

So to answer your last question, as I said before, you're credit will not be hurt whether you decide to keep open or close the account as regardless, you will keep the same amount of credit reporting to your credit report. It's whether it's a hassle to you to hold onto it for so many years and keep it active.

If you're asking me personally, I would first call to see if they could make it a Freedom. If they could not, I would hold onto it and bring it out every month or so for a random internet purchase.

Pupeitmeister · ‎12-04-2013

I didnt think you could have two of the same product with chase.

I currently run netflix through this card and have it linked to paypal for online purchases.

Leaving it open wont bother me, neither will closing it once my freedom starts reporting some history. It just landed on eq. Dec 1, 2013

OFFICIAL GARDEN START DATE: 10-05-2014... TARGET GARDEN END DATE: 06-01-2016 Lets Git 'r' dun

takeshi74 · ‎12-04-2013

@Pupeitmeister wrote:

Will my AAOA get hurt by me moving the chase slate now enough to worry about it or should i just let it sit at a 0 balance and attempt a CLI on it to move to freedom and push freedom over the 5k hump?

Closed accounts in good standing continue to report for 10 years so AAoA won't be immediately impacted by closing it. The immediate impact from closure is on utilization due to reduced limits but if you're reallocating the credit limit to another card then that won't matter.

@Pupeitmeister wrote:

So .. my file says AAOA 12 years, If i close the Chase from 2005, and add it to my Freedom from 2013, to get to 4.8k CL, would this be something that sounded like a good idea?

If the Slate is of no use to you and the added CL would be beneficial on the Freedom then it probably is a good idea for you.