Chase and New Accounts Question

manwoot · ‎07-20-2013

I'm looking for your guys' expert opinions on this subject...

In June 2013, I was approved for a Citi TY, Amex BCE, and a Chase Sapphire card. In July, I regretted not getting a CSP so tried to product change, and Chase said they don't do PCs for 12 months. Now that I have both a Sapphire and a Sapphire Preferred, I'd like to get rid of the Sapphire and open a Chase Freedom card for the Freedom / CSP combo. I have a $5,000 CL on both Sapphire accounts.

My question is: Should I consolodate the $5k from the Sapphire to the Preferred and try to open a Freedom and move the $5k back on Sept 1st? Or should I wait the full 12 months until Jun 2014 and PC the Sapphire to a Freedom? I'm worried Chase isn't going to like 3 applications within 30 days of each other and is going to deny me outright. There are no branches in my state, so I can't go talk to a lender.

What's my best option?

LawStudentCivilis · ‎07-20-2013

I'd PC it to Freedom by calling EO. EO is very pleasant to work with and have the power to do this. I can PM you the number if you like.

manwoot · ‎07-20-2013

Please do. I spoke to a rep using the number on the back of my card and he said due to the CARD act, they can't PC anything for 12 months.

Have you actually gotten a PC sooner?

LawStudentCivilis · ‎07-20-2013

I had a similar but not same situation about moving around the CL which seriously ticked me off. I don't like incompetence. I will PM, they're much more professional than CSR's. I'm still bitter about Chase though.

Irisa · ‎07-20-2013

Did submit a new app for the CSP 30 days later?

I am in a similar situation, except I got a Freedom in April and Sapphire about two weeks ago. I should have applied for CSP, and now I don't know what to do. I may just have to wait 12 months and then try to PC to CSP. I don't want all 3 cards.

manwoot · ‎07-21-2013

Cs and CSP were within two weeks of each other.

LawStudentCivilis · ‎07-21-2013

Please update us once you speak to EO!

longtimelurker · ‎07-21-2013

@Irisa wrote:
Did submit a new app for the CSP 30 days later?

I am in a similar situation, except I got a Freedom in April and Sapphire about two weeks ago. I should have applied for CSP, and now I don't know what to do. I may just have to wait 12 months and then try to PC to CSP. I don't want all 3 cards.

If at all possible apply for the CSP rather than PCing, to get the bonus. Then simply close the Sapphire (after trying to move its CL to another card).

tk_0014 · ‎07-21-2013

Don't quote me on it, but I think the problem PCing to CSP would be the Annual fee, and the CARD act says that fees cannot increase on a card for at least one year.

At least that is what the AMEX people told me when I tried to swap the BCE for the BCP.

Try to PC the regular sapphire to freedom, if they do not let you, go ahead and do the swapping of credit limits like you outlined.

MyFICO (4/13) EQ score 733 CK TU score 6/13 754 FCR EX 4/13 736

CU overdraft protection CL $500 Freedom $3000 CSP $8000 BofA 123Cash Reward $3000 C1 QS1 $1250, C1 QS $5500 PP Cred $2950 Amex BCP $19500 DISC IT: $14,100 Home Depot $8000

ayasoysis · ‎07-21-2013

It's true. I had the same problem with my Amex Gold. I wanted to do a product change to Premier Rewards. Me being the dufus that I am applied for the wrong gold card. They said I couldn't do that for another 12 months due to that Card Act. So now I have to wait until next year to get the card I really want. Sucks!