Hey Board! Silver Spade (first time ever) CreditMagic7 here. I have a decision to make that i like your feedback on it. I'm sure many have went thru this very same thing before but i am very Chase Illiterate and know little to nothing on their procedures.
Simple question but hard decision 4 me right now i think. So Ok here goes. I have the nice Freedom Card ($3K) for over 1 year now but with that god awful 22.99% APR (Yuck). I like and use the 5% Categories occasionally and ALWAYS PIF. I know a CLI is all but out of the question without a HP, at least for me, that i'm sure of. Even though i never cart a balance on it there will likely be times when i might but more importantly $3K doesn't offer me much flexibility when it comes to spend on it so i don't ever charge much on it when i do use it which hasn't been very often.
Which brings me to the OTHER Chase Card in the CSP ($5K). The APR on this card is to me within reason enough, 15.99% but as you all know it also sports a classic $95 AF and i really am not that fond of any AF cards since 2 Diner's Club AF's are plenty enough to stomach AS IS.
The CSP is a youngling yet and won't turn 1 year until 2016 so as i see it and if i understand it right, in order to close the one and move the limit to the other right now it would have to go to the CSP. I think i am OK with that in spite of the AF which maybe i can do something about next year.
If i call into Chase to request to make this switch would i need to hit up the Recon Dept or can the regular CSR's handle it?
See, it's double jeopardy for me. One card (Freedom) has BOTH a small limit plus sky high APR but useful categories whereas the CSP is a decent card alright with an equally better APR than the Freedom Card only with the AF. I'm thinking i just as well transfer the $3K Freedom into the CSP and thus end up with an $8K CSP.
Do you think this will slide OK with them? Also question #2 is once this is done what's the estimation on how long do you have to wait in orer to reapply for the Freedom Card again? Bear in mind that I DID NOT EXERCISE THE BONUS $100 OPTION for $500 spend on the Freedom Card. So they can't look at it and say this one is trying to go for another freebie bonus 
@kdm31091 wrote:Do you really get good use out of the CSP, though? The lower APR may not make up for the annual fee, really. If the Freedom is the more useful of the two, there's no reason to close and merge to get a somewhat lower APR if the CSP and its fee don't suit you. There are very, very, very few reports of anyone getting a CSP fee waived later on (you alluded to "doing something about it")...the only thing you can do is downgrade to the regular CS and lose the fee, but you also will have a 2x dining/travel card instead of 5% rotating. Unless you spend a ton, a TON on dining, I think keeping the Freedom over CSP sounds like a better choice.
I know the APR sucks and Chase will never lower it, but you still want to keep a card if you actually get use out of it
I'm most assuredly in no way in expectation of any AF Waiver whatsoever from Chase in spite of anyone elses rare success to that end but could explore the proverbial PC route maybe to a non-AF card instead. That is what i was getting at. 
I respect that opinion kdm and it's a valid option but just not for me at this time i think. In the other scenario it seems with moving the Freedom onto the CSP until at least the CSP clocks in at 1 year like the Freedom already is, will produce a little higher limit on the CSP ($8K) coupled with a much better APR in spite of the AF which like i said can be dealt with next year thru PC of some sort maybe.
I do already have the 5% Discover Card but at least they have been very accommadating in lowering their APR and can be lowered more yet as well as Sp CLI's which are a tremendous boost in the right direction for many of us current cardholders, something Chase is currently woefully inadequate at offering their customers.
But i'm not interested in comparing those 2, the Freedom for me is an outstanding card and i won't hesitate applying for it again in the future (whatever many months that they allow) since i didn't use that Bonus feature.
@ddemari wrote:I agree. If you have had Freedom for a year, you are probably still getting 0% apr? I remember it being 15 months. Chase is known for not lowering Apr's or giving CLI's. But, if you have a great profile and high score, you might just want to send them a secure message asking them if there are any offers to lower the interest rate on your Freedom. Roll the dice, can't hurt to ask.
I had almost forgotten about that. It's definitely in the final month of the 0% APR.
I consider my credit habits as a dual payer meaning some cards i choose to strictly revolve on while others (Like Chase this year) i pay as a transactor with (Always PIF) and then in time shift and rotate that same payment schedule with their competitors and revolve on them awhile while transacting other cards. My method keeps me on my credit toes and keeps their current systems scrambling to get a fix on the right formula to list me with
I'm not even sure at this point in time given Chase's big penalty payouts (bad boys) that seem to have now been reflected in their credit tightenings of late if i can even apply for another Freedom Card for a long time but it is what it is and an $8K CSP w/15.99% APR will look much better to their competitors underwriters IMHO then an outrageous stifling 22.99% with a mediocre $3K with no chance for CLI's unlike what Discover can produce for it's customers.
Whatta Ya Think? Transfer to CSP?
@ddemari wrote:OP- From my own experience this year, Chase has been handing out Co-branded cards LIKE crazy. I dont know what your scores are, but if you are high 600 to low 700's, u could possibly get a 5 digit limit on say a Marriott or Hyatt Visa? Then keep the card open to retain the free night and move a majority of the credit limit over to the Freedom card. Say u get approved for Marriott 10k, u can move 9k over to Freedom and then keep the card for a year and close it. I know its another annual fee though, so its not your game probably but just an option.
Very smart option ddemari cannot dismiss that at all really. And the other point above by having 2 Chase Cards does give rise on credit examinations by U/W's to perhaps better considerations depending on the Lender i must agree as well as Chase's internal scorecard i would assume.
So you see gentlemen this possible decision was something worth asking all your advice about 
I'm really not THAT too concerned on the APR since it would have to remain a PIF transactor card. Chase definitely is the Hotel California of those cards and i was reserving a right time to bring one in but...........................
Thanks for the suggestions so far and i really appreciate the feedback. Decisions, decisions 
@CreditMagic7 wrote:
@ddemari wrote:I agree. If you have had Freedom for a year, you are probably still getting 0% apr? I remember it being 15 months. Chase is known for not lowering Apr's or giving CLI's. But, if you have a great profile and high score, you might just want to send them a secure message asking them if there are any offers to lower the interest rate on your Freedom. Roll the dice, can't hurt to ask.
I had almost forgotten about that. It's definitely in the final month of the 0% APR.
I consider my credit habits as a dual payer meaning some cards i choose to strictly revolve on while others (Like Chase this year) i pay as a transactor with (Always PIF) and then in time shift and rotate that same payment schedule with their competitors and revolve on them awhile while transacting other cards. My method keeps me on my credit toes and keeps their current systems scrambling to get a fix on the right formula to list me with
I'm not even sure at this point in time given Chase's big penalty payouts (bad boys) that seem to have now been reflected in their credit tightenings of late if i can even apply for another Freedom Card for a long time but it is what it is and an $8K CSP w/15.99% APR will look much better to their competitors underwriters IMHO then an outrageous stifling 22.99% with a mediocre $3K with no chance for CLI's unlike what Discover can produce for it's customers.
Whatta Ya Think? Transfer to CSP?
You think like I do! I called a month or so ago and transferred $3000 of my Marriott to my CSP so now it's $8000. I have a $2000 Freedom and I'm thinking of closing it next summer and transferring that cl to my Marriott. The Freedom and the Marriott I seldom use right now and when I do I immediately PIF. I DO use my CSP a lot though. My Discover has a higher CL than the Freedom and everyday I look at my Chase accounts in hopes of auto cli's, but they are never there. 
Do what you feel is the right thing for your credit profile. I believe you would have to wait 2 years to reapply for a Freedom, but since you have a Discover then you are covered in rotating categories for a while.