I received this card ($5k) with only two other cards ($500 USAA MC and $1200 BoA Platinum Plus, both 5+ years with no negatives) and a car loan (40% on $8500, cosigned, 3+ years with no negatives). No prior relation with Chase. I don't know if having a $8500 car loan is comparable to having a $5k card.
The $5k limit is an absolute, as it is the minimum allowed for a World Mastercard (what I got) or a Visa Signature. They will not budge on this, i.e. they will not issue a non World MC or Visa Signature. I decided I would try my luck at getting a Freedom too and they told me a) we don't know you b) we can't transfer any limit away from the World MC.
The metal card is pretty nice (lots of comments on how heavy it is), but it scratches really easily. There are pretty big chunks missing out of the World MC logo on the back due to rubbing against other cards in my wallet and lots of scratches from where it swipes. It's definitely not as durable as a plastic card (or maybe it just mars uglier).
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@kekrre wrote:I received this card ($5k) with only two other cards ($500 USAA MC and $1200 BoA Platinum Plus, both 5+ years with no negatives) and a car loan (40% on $8500, cosigned, 3+ years with no negatives). No prior relation with Chase. I don't know if having a $8500 car loan is comparable to having a $5k card.
The $5k limit is an absolute, as it is the minimum allowed for a World Mastercard (what I got) or a Visa Signature. They will not budge on this, i.e. they will not issue a non World MC or Visa Signature. I decided I would try my luck at getting a Freedom too and they told me a) we don't know you b) we can't transfer any limit away from the World MC.
The metal card is pretty nice (lots of comments on how heavy it is), but it scratches really easily. There are pretty big chunks missing out of the World MC logo on the back due to rubbing against other cards in my wallet and lots of scratches from where it swipes. It's definitely not as durable as a plastic card (or maybe it just mars uglier).
Had a recent experience with chase I thought I should share. I have 3 total chase cards, csp, select, and freedom. I callEd the # on the back of my csp and talked to a nice CSR. I asked her about closing my select and transferring the credit limit to my csp. She said she could absolutely help me out but since I had a balance (small, around $200) she wouldn't be able to close the card and transfer the entire limit. Furthermore, if that's what I wanted to do, the system wouldn't allow her to transfer the entire limit until the card had no activity for 90 days. She did say that if I wanted to shift some of the credit over I could as long as I left 1000 on the select. So, while the 5k rule is absolute for opening the card it wasn't for keeping it open. I could have transferred as much credit over as I wanted as long as I left 1k (plus the balance of 200) so a total of 1.2k on the select.
Starting Score: 617 EQ 10-17-11
@Jake0215 wrote:
@kekrre wrote:I received this card ($5k) with only two other cards ($500 USAA MC and $1200 BoA Platinum Plus, both 5+ years with no negatives) and a car loan (40% on $8500, cosigned, 3+ years with no negatives). No prior relation with Chase. I don't know if having a $8500 car loan is comparable to having a $5k card.
The $5k limit is an absolute, as it is the minimum allowed for a World Mastercard (what I got) or a Visa Signature. They will not budge on this, i.e. they will not issue a non World MC or Visa Signature. I decided I would try my luck at getting a Freedom too and they told me a) we don't know you b) we can't transfer any limit away from the World MC.
The metal card is pretty nice (lots of comments on how heavy it is), but it scratches really easily. There are pretty big chunks missing out of the World MC logo on the back due to rubbing against other cards in my wallet and lots of scratches from where it swipes. It's definitely not as durable as a plastic card (or maybe it just mars uglier).
Had a recent experience with chase I thought I should share. I have 3 total chase cards, csp, select, and freedom. I callEd the # on the back of my csp and talked to a nice CSR. I asked her about closing my select and transferring the credit limit to my csp. She said she could absolutely help me out but since I had a balance (small, around $200) she wouldn't be able to close the card and transfer the entire limit. Furthermore, if that's what I wanted to do, the system wouldn't allow her to transfer the entire limit until the card had no activity for 90 days. She did say that if I wanted to shift some of the credit over I could as long as I left 1000 on the select. So, while the 5k rule is absolute for opening the card it wasn't for keeping it open. I could have transferred as much credit over as I wanted as long as I left 1k (plus the balance of 200) so a total of 1.2k on the select.
It's possible it's just for new accounts, possible it's because you were trying to close the account, possible it's different for the Select than the CSP, possible you have more pull with Chase, or just that you had a nice CSR (or some combination thereof). As far as it relates to the OPs concerns, I was told that if I had been approved for a higher limit, they would have had no problem shifting limits to open a Freedom for me, but that they would not drop the limit on the CSP below $5k. But nice to know regardless.