Chase gave me two options

[newUser0]

Hey all,

I applied for Chase IHG card last week and they declined it. 

I called the recon line and a nice analyst said the reason for decline was :

-> Too many balances/ High Credit usage. 

I said I usually pay my card in full and don't carry a balance. Then he had a deeper look and gave me these two options:

1) Approve for IHG by moving $2K from my other cards.

2) Wait for some months (3-4) and apply again, and get a higher credit limits? (like additional $10K CL)

I am confused which one to select. What do you all suggest?

[ksantangelo23]

How low would that leave your other Chase account? If you moved 2k.

My opinion is that I would never waste a HP.

[Anonymous]

+1 👆 and don't HPs with no new accounts look bad as opposed to an HP with corresponding new account. HP's are like gold, however if it takes an HP to CLI with Chase which you'd have to do on that $2k then the difference is the same. $2k now, HP now, HP later = ~$10k. or HP now. no acc. HP later = ~ $10k. You'll take two HPs either way to get to that 10 k range, however you'll lose $2k on one card with option 1.

Choose wisely: the blue pill ✋🏾 or the red pill ✋🏿?

[ksantangelo23]

I'd go for it and get the card now

[B335is]

What Chase cards and limits do you have now? I'd be more inclined to take the first option because you'll at least get the bonus. Lately they've been turning a lot of people down for new accts.

[Anonymous]

I'm also in the camp - don't waste a HP.

[Anonymous]

If it were me, I would take it now and get the bonus since you already took the HP.  Later down the road you can request CLI.  Either way, looks like you will take 2 HP's if you want to get to ~$10,000 

[dragontears]

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@Anonymous wrote:
+1 👆 and don't HPs with no new accounts look bad as opposed to an HP with corresponding new account. HP's are like gold, however if it takes an HP to CLI with Chase which you'd have to do on that $2k then the difference is the same. $2k now, HP now, HP later = ~$10k. or HP now. no acc. HP later = ~ $10k. You'll take two HPs either way to get to that 10 k range, however you'll lose $2k on one card with option 1.

Choose wisely: the blue pill✋🏾 or the red pill✋🏿?

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with as stingy as chase is with CLI (from what I read hear) what is the realistic chance of chase bumping a CL from 2k to ~10k in 1 HP?

Edited for typos

[ksantangelo23]

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@dragontears wrote:

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@Anonymous wrote:
+1 👆 and don't HPs with no new accounts look bad as opposed to an HP with corresponding new account. HP's are like gold, however if it takes an HP to CLI with Chase which you'd have to do on that $2k then the difference is the same. $2k now, HP now, HP later = ~$10k. or HP now. no acc. HP later = ~ $10k. You'll take two HPs either way to get to that 10 k range, however you'll lose $2k on one card with option 1.

Choose wisely: the blue pill ✋🏾 or the red pill ✋🏿?

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with as stingy as chase is with CLI (from what I read hear) what is the realilistic chance of chase bumping a CL from 2k to ~10k in 1 HP?

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Considering how easily fixable his negative factor reasoning was, Id imagine it wouldnt be impossible for an 8k CLI.

[Anonymous]

Get card now.