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Chase freedom: ask for CLI or close and reapply?

Valued Member

Re: Chase freedom: ask for CLI or close and reapply?

Hi guys, the discussion on this thread is exactly the internal debate I've been having...risk vs. reward...does a potentially higher CL from a new app justify the hit to AAoA (which is now almost 8 years which I'm very proud of!)...and also would it flag as suspicious.

A quick snapshot to help analyze my credit situation: personal income about 40k, CSP 9.1k limit, BCP 9k limit, freedom 1k limit. AU on another freedom with 13k limit and AU on Costco Amex with 25k limit. Also over a year into my first car lease.

I have some investments but those don't show up on CR so its moot.

FAKO scores high 700s low 800s, never a single baddie, ever.
Message 11 of 14
Frequent Contributor

Re: Chase freedom: ask for CLI or close and reapply?

Don't close your account! You might get a measly $500 credit limit.

 

I think you're likely to be overextended due to the fact that your total credit limits exceed your income. I would close the two AU accounts and then ask for a credit limit increase on the freedom card. 

 

Wait for others to chime in before taking my course of action.

Cards: CSP 6k, Chase Freedom 6k, BCP 7.5k, Sallie Mae 8.9k, Discover 5k, BOFA Better Rewards 3.8k
Message 12 of 14
Established Member

Re: Chase freedom: ask for CLI or close and reapply?

Why dont you open a chase Freedom mastercard and then if you get the high limit move it over to the visa later

ECU: 7000 (6.25% Fixed) -- Chase Freedom: 3000 (19.99%) -- Citi Dividend: 3000 (13.25%) -- Amex: 2000 (?% promo 0%) -- UWCU: 2.5k (11.45%) -- Barclay Apple: 1500 (Will never use again) -- Paypal: 2.6k (Use for promo 0% only) -- Cap 1: 2000 (Sock drw. 22.99%) -- Cap 1: 2000 (sock drw. 19.99%)

ECU auto loan (2.99% for 72 months on 2013 Dodge Avenger V6)
Senior in school for Civil Engineering

Scores: TU: 713 EQ: ? EX: 698
Message 13 of 14
Blogger

Re: Chase freedom: ask for CLI or close and reapply?

Your current level of income doesn't warrant a significant CLI IMO. Between the two cards you already have 10k in credit limit with Chase. You may want to save the HP for something else. 

Message 14 of 14