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Established Member
sid369
Posts: 16
Registered: ‎06-09-2010
0

Chase freedom to Chase Sapphire question

Hi all,

 

I have achase freedom CL$3000 and Chase sapphire $6000. Can I trabsfer the credit line from freedom to sapphire and close my freedom card.

 

Also, can you make car payments with credit cards? 

Frequent Contributor
somnipotent
Posts: 367
Registered: ‎06-02-2008
0

Re: Chase freedom to Chase Sapphire question

[ Edited ]

You absolutely can transfer your LOC from one card to another.  Just call them.  However the revolving points on the Freedom makes it handy to keep around.  That is, if you're a point chaser like me.

 

As far as car payments go, you can't make payments directly using a credit card.

 

HOWEVER, you can use a payment processor such as chargesmart which will charge you a small fee and THEY will pay your car payment for you and you collect the points.  I've been using sites like chargesmart and williampaid for my car payment and rent to maximize my point accumulation.  I take a small hit, but the returns outweigh the costs.


AmEx PRG (NPSL) | AmEx Costco ($8.2K) | AmEx Delta Gold ($19.3K) | AmEx BCE ($5K) | Chase United Explorer ($10K) | Chase Sapphire Preferred ($7.5K) | Chase Freedom ($8.2K) | Discover it ($3K) | Capital One Quicksilver ($2.5K) | PayPal Extras ($2.5K) | Lowes ($3.3K) | Walmart ($4.3K) | Amazon ($2.5K) | Restoration Hardware ($8.8K) | Crate & Barrel ($8.3K)
--
Homeowner since 05/29/13
Frequent Contributor
JPersat
Posts: 299
Registered: ‎05-28-2012
0

Re: Chase freedom to Chase Sapphire question

How small a fee? Like a percentage?

Starting Score: 492 02/12
Current Score: TU: 668 (FICO), EQ: 668 (FICO). EX: 651(lender pull 9/27/12)
Goal Score: 660



Valued Contributor
trumpet-205
Posts: 2,505
Registered: ‎11-11-2010
0

Re: Chase freedom to Chase Sapphire question

[ Edited ]

somnipotent wrote:

HOWEVER, you can use a payment processor such as chargesmart which will charge you a small fee and THEY will pay your car payment for you and you collect the points.  I've been using sites like chargesmart and williampaid for my car payment and rent to maximize my point accumulation.  I take a small hit, but the returns outweigh the costs.


Actually, many times cost outweighs the return.

 

Chargesmart typically charges large amount of fee that negates any credit card reward values. For auto payment Chargesmart charges $9.95+ fee, which means you need to spend $995+ to break even on your credit card.

 

Williampaid is almost a useless service. Williampaid only reports your payment information to PRBC, a credit bureau that is almost never used (even useless than Innovis, which is mostly used in mortgage application). Like Chargesmart, its fee typically outweighs credit card reward values.

In My Wallet:
Citi Forward (12/2010) | Citi Dividend (05/2011) | Chase Freedom (11/2011) | GECRB/PayPal (05/2012)
Discover it (07/2012) | AMEX BCP (09/2012) | TD/Target REDCard (10/2012) | Chase Ink Classic (11/2012)
BofA BBR (04/2013) | FNBO/Overstock.com (02/2014) | Barclaycard Arrival (04/2014) | FIA/Fidelity AMEX (04/2014)
Established Member
sid369
Posts: 16
Registered: ‎06-09-2010
0

Re: Chase freedom to Chase Sapphire question

thanks for you response. So I can transfer the netire line correct? I want o lcose freedom coz i forget to sign up for the quartely 5% back and don't us eit often, so I am thinking might as well combine and increase the credit line for sappahire and jst use that card.

 

Is it a bad idea?


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