Closing one card for another

[ecxpa]

I see a lot of posts talking about closing one card to get another card sometimes from the same lender..........most recently I've seen references like folks closing their CSP to get the new CSR.  Is this something you discuss with the lender in advance or do you just close a card in hopes of being able to get a new card.   Why not just PC a card for a better card.

[Anonymous]

Because when you PC you're foregoing the usually lucrative sign up bonus.

[driftless]

---

@ecxpa wrote:

Is this something you discuss with the lender in advance or do you just close a card in hopes of being able to get a new card.  

---

You get the new card first. Most ccc will allow you to close a card online, if you are moving CL's that generally requires a phone call or SM.

[kdm31091]

There's no real reason to close a card "in exchange" for a new one unless you are worried about over exposure. Closing your CSP will have no bearing on whether you get approved for CSR. If you (understandably) don't want to PC, the only way closing the old card helps is if you think you have too high of limits with Chase. Otherwise I don't feel it's related.

[driftless]

There is talk of closing CSP for those who have or will get the CSR because the cards are some what duplicative.

[kdm31091]

---

@driftless wrote:
There is talk of closing CSP for those who have or will get the CSR because the cards are some what duplicative.

---

Right, but my point is that it doesn't change approval odds in most cases, which is what (I think) the OP was talking about

[takeshi74]

---

@ecxpa wrote:

I see a lot of posts talking about closing one card to get another card sometimes from the same lender..........most recently I've seen references like folks closing their CSP to get the new CSR.  Is this something you discuss with the lender in advance or do you just close a card in hopes of being able to get a new card.

---

Already mentioned above but closing a card doesn't necessarily mean that one can get approved for another card.  You can't just trade cards like that.  Credit decisions are made based on one's credit profile and income at time of consideration.  The impact of closing a card depends on one's credit profile and the specifics of the tradeline being closed.  In some cases it can lead to negative impact.  In some cases it can lead to positive impact.  In yet other cases it can lead to little to no impact.  Impact is never just about the change itself.

As stated above, people close out a card (or PC the existing card) and apply for a new card to qualify for sign on bonuses.  The CSR has a 100K UR sign on bonus.

---

@kdm31091 wrote:

Right, but my point is that it doesn't change approval odds in most cases, which is what (I think) the OP was talking about

---

I don't think the reply was specifically directed to you or in reference to approval odds even though the OP assume that it had to do with approval odds. OP was asking about why people would close a card and apply for a new card with the same creditor. Redundancy/overlap is certainly a possible consideration.

[longtimelurker]

---

@kdm31091 wrote:

There's no real reason to close a card "in exchange" for a new one unless you are worried about over exposure. Closing your CSP will have no bearing on whether you get approved for CSR. If you (understandably) don't want to PC, the only way closing the old card helps is if you think you have too high of limits with Chase. Otherwise I don't feel it's related.

---

Right, and as a subset of over-exposure, you may be concerned that you won't be AUTO-approved, and if there are things on your account that do not stand close examination, you may want to close the old card first.