Dangers of the Chase SM?

[CreditJim]

I've been reading a lot on here about the horror stories of sending Chase a SM to reallocate CLs when closing accounts and having a lot of adverse action taken.

I am currently weighing up what to do with my Chase Hyatt, as the fee is due. When I got it I'd been status-matched to Hyatt Diamond and planned to shift a lot of my travel stays to Hyatt. However, this changed and I now put all my travel on my business cards.

I have a Freedom with an 11.5k limit and the Hyatt is at 28k. At first I was going to send an SM and have my card closed and limit moved to the Freedom. However, after all the horror stories I'm a little worried about doing that. My long term plan is also to pick up the CSR and Ink Preferred, so now my thoughts are that I should just close the Hyatt and not try to move the CL, the thinking being that my overall exposure with Chase will be lowered, and make room for (hopefully) easier approvals once I'm below 5/24.

What do you guys think?

[Discover2016]

When sending Chase a SM, the best thing to do is pretend you are with Chase and are reviewing your own profile. When viewing your own profile, how does it look? How are balances and inquiries? If all those are good and low then you should have no hesitation sending a SM to Chase.

[Anonymous]

Two weeks ago I sent Chase a SM asking to transfer my Freedom balance to my CSP and to close the Freedom card.  It was as simple as that.  They wrote back and said done deal.

[CreditJim]

Profile all looks good, no significant balances. But as I mentioned in the post, I'm wondering now if preemptively lowering my exposure with Chase ahead of my attempts to add a couple more in the summer once I'm below 5/24 is a good plan?

[iced]

For every horror story, there's a 100 stories that went without a hitch. Unless you are carrying high balances or have vastly been overextended credit, I wouldn't worry.

[Anonymous]

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@iced wrote:
For every horror story, there's a 100 stories that went without a hitch. Unless you are carrying high balances or have vastly been overextended credit, I wouldn't worry.

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+1

The great thing about these forums is the information you learn about different products and experiences but the downside is all of that information can scare the hell out of you for no good reason. I recently shared a bad experience with USAA, but there are 100 people who have had good experiences. I'll probably have nothing but good experiences too. The trick is to weigh the good with the bad and make an informed decision from there.

[DeeBee78]

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@CreditJim wrote:

I've been reading a lot on here about the horror stories of sending Chase a SM to reallocate CLs when closing accounts and having a lot of adverse action taken.

I am currently weighing up what to do with my Chase Hyatt, as the fee is due. When I got it I'd been status-matched to Hyatt Diamond and planned to shift a lot of my travel stays to Hyatt. However, this changed and I now put all my travel on my business cards.

I have a Freedom with an 11.5k limit and the Hyatt is at 28k. At first I was going to send an SM and have my card closed and limit moved to the Freedom. However, after all the horror stories I'm a little worried about doing that. My long term plan is also to pick up the CSR and Ink Preferred, so now my thoughts are that I should just close the Hyatt and not try to move the CL, the thinking being that my overall exposure with Chase will be lowered, and make room for (hopefully) easier approvals once I'm below 5/24.

What do you guys think?

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Can the Hyatt card be PC'd to something without an AF? 

[kdm31091]

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@iced wrote:
For every horror story, there's a 100 stories that went without a hitch. Unless you are carrying high balances or have vastly been overextended credit, I wouldn't worry.

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I agree. OP, try not to become paranoid just because of a few horror stories. Just use your judgement. Does your profile have any red flags? High util? Excessive inquiries? If you ask Chase to look at your profile for any reason, they're going to do so. For some people this hasn't turned out well but generally the reason has been obvious when the person explained it, so although it's disappointing. it's not unexpected really.

Try to relax and don't overthink something like sending Chase a message. Good luck.

[Anonymous]

Never had a problem. I rather SM them then call..

[redpat]

There is also nothing wrong with closing it.

A 39.5k freedom card is pretty worthless, IMO.