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Hey everyone
So I did read the post by fused which I was thought many things I didn't know about before but I'm still having an issue.
My son recently wanted to book a vacation for $5000. My credit limit at the time for a specific card (Southwest Rapid Reward)I wanted to use was only $1000
so I raised the limit just yesterday to $10,000. Now my son decided he can no longer go on the trip due to a work related emergancy.
At the same time I found out my renewal for teh southwest rapid reward is coming up ($100)so I was debating if I should just cancel the card.
My credit History with this card is about to be 2 years. Now my concern is I just raised the limit and it pulled my credit and if i close this credit card it will effect my credit again and I didn't even recover from the pull when I raised my limit.... any advice on what I should do and how this will effect my credit if I do close my cc?
I do have 2 other credit cards that have around the same limit and they have been around for 5 - 6 years so this isnt my only credit card. But I guess my concern is just how this will effect my overall credit If I close this cc since I don't know how I will recover from the credit hit when I raised the limit...... SIGH any advice would be appreciated thanks!
call and PC to a different card
Sorry I am totally new... what does PC mean?
While it won't hurt you to close because the positive TL will remain for 10 years.
However it will hurt your UTL and for that reason I don't recommend closing instead try calling for a PC or waiving AF..Good luck
pc = product change... have them switch it to a card with no annual fee
@Anonymous wrote:Sorry I am totally new... what does PC mean?
@Anonymous wrote:Sorry I am totally new... what does PC mean?
PC = Product Change. Check the backdoor number thread for the Chase executive Office and see if they'll switch your card to something else that might have better rewards for you and no yearly fees.
Congrats on the great CLI btw!
PC= product change
Do you have any other Chase cards you could transfer the limits to? Maybe apply for the Freedom card and transfer the limt there.
Thanks everyone for the wonderful advice. I will look into PC and hopefully get a card with no annual fee. As for PC is it like applying for a new credit card? Will they run your credit and reapply? Because then I feel like if it deos pull the credit then I would be getting pulled again...
Thanks!