My husband was approved with a $2500 limit for Chase Freedom after being approved earlier in the week for a $2500 Chase Slate. He has $3500 in credit card balances on a couple older cards that still have really high interest from when he was still starting out, like 27%. Is he better off asking for a higher limit on one of them or moving part of the balance to each one? This is his only credit card debt and I'd like to think we could knock it out quick at 0%. He's been paying $300 a month on it, but, of course $70 of that goes to interest right off the top. (Basically, card got ran up with two major car repairs and $1000 in registration fees and so forth from the new car; yeah, should have just got the new car and ditched the old one before the two repairs, but, that's hindsight)
I don't care about maintaining two different cards, just curious which would look better and how Chase is on recon for credit limit.
I just called them to recon the initial limit on my SW card and was told it would be another HP, but I've pulled my report twice since then and I haven't seen anything. They did bump it from $6K to $7200.
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@ezdoesit wrote:
@JenniferinFL wrote:My husband was approved with a $2500 limit for Chase Freedom after being approved earlier in the week for a $2500 Chase Slate. He has $3500 in credit card balances on a couple older cards that still have really high interest from when he was still starting out, like 27%. Is he better off asking for a higher limit on one of them or moving part of the balance to each one? This is his only credit card debt and I'd like to think we could knock it out quick at 0%. He's been paying $300 a month on it, but, of course $70 of that goes to interest right off the top. (Basically, card got ran up with two major car repairs and $1000 in registration fees and so forth from the new car; yeah, should have just got the new car and ditched the old one before the two repairs, but, that's hindsight)
I don't care about maintaining two different cards, just curious which would look better and how Chase is on recon for credit limit.
Another option if you don't want to take the HP. See if you can move some of the limit from the Freedom to the Slate. I don't know if you can with such a new card. Also how much more do you want on the Slate? Just remember if you just move for example $1000 from the Freedom to the slate and then transfer the other CC balance then the slate will be maxed out and his score will take a hit. If he doesn't plan to app for anything then I wouldn't worry about it and in a year the balance will be paid off anyway.
I would suspect that without knowing much about his Credit history that Chase probably will not extend much more credit to your husband based on his starting limits without some history with them. IMO.
It was an instant approval for the Freedom, and I should have taken a screen shot of it because the wording on it was weird. It was something along the lines of, Congratulations! Your approved for $2500........... Then at the end it had something to the effect of, "need a larger limit? Give us a call" which struck me as odd.
His credit's pretty decent other than he just got a car loan which I'm sure is making them squirm a bit.. lol Basically an app tornado just rolled through, so I figured since he already had plenty of inquiries from the car loan might as well add a few more and then let them all fall off together.
Oh well, both cards had 15 month 0% balance transfer offers, so I'll just put part on each one and call it a day. Honestly, that'll let each of them get some use. His poor Discover card has only a $500 limit, so that's pretty much been in the sock drawer since he got it and I'm sure the Slate would end up there too if the limit was $1000. Honestly he's got quite a few $1000 limit sockdrawered cards.
@lonelyisland wrote:Yeah, I dont know why they all say this:
Your new account has a Credit Access Line of XYZ
If this does not meet your needs, you can discuss available credit line options with a Customer Service Specialist when you call to
confirm receipt of your card.
Then when you call, they are reluctant to discuss it LOL. Why bother encouraging people to call, but then discouraging them with another credit pull, and stingy CLIs?
LOL, yup, that's exactly it. I couldn't remember the wording. AND that's why I always ask here first.. 
Yeah, I'll skip the other hard pull for probably no reason and just use both cards.
I swear everyone needs a really credit-passive spouse they can manage accounts for.. My husband had never had a credit card when we got married. Yeah, that caused a mild fiasco on our honeymoon when he couldn't even book a hotel room. The drawback of course to this level of passivity is that I have a folder made up for him called "All the passwords for everything just in case I die suddenly". I periodically remind him where the folder is and hope for the best in the event of my unexpected demise.
LMAO @jenniferinfl
06/26/2014 - Gardening until 7/1/15