Credit Card Center Advertiser Disclosure

Reply
Contributor
Posts: 75
Registered: ‎10-20-2014
0 Kudos

PC from Chase Freedom to Chase Sapphire Preferred

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

 

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

 

While I know that I could app for the CSP, two things come to mind:

 

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

 

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

 

Thanks!

.
Scores as of 05/02/2017: 797 - EQ, 795 - TU, 778 - EX
Super Contributor
Posts: 15,255
Registered: ‎04-22-2013

Re: PC from Chase Freedom to Chase Sapphire Preferred

The major reason for not PCing to the CSP is that you won't get the generous sign up bonus, which is a very big plus for the card.   If you actually need the card, and you are over 5/24 or can't take an HP, then it might make sense but not sure that applies in your case.

 

A PC won't cause an HP or new account ding, which is why people do it.

Super Contributor
Posts: 8,370
Registered: ‎11-12-2014

Re: PC from Chase Freedom to Chase Sapphire Preferred

You don't get the HP, but you also don't get the sign up bonus, meaning you'd have to be able to justify CSP on its own merits right out the gate with no initial bonus.

 

As far as the APR, your 24% APR will carry right over to the new account if you do a PC.

Super Contributor
Posts: 8,884
Registered: ‎10-03-2008
0 Kudos

Re: PC from Chase Freedom to Chase Sapphire Preferred


joesbrat67 wrote:

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

 

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

 

While I know that I could app for the CSP, two things come to mind:

 

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

 

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

 

Thanks!


Going to confirm that doing a Chase P/C will not change your underlying terms and conditions. Generally, Chase leaves them in place so your hope for a better Apy would come from Chase lowering it (at your request) or you applying for a new product. Speak from experience. As always there are exceptions I am sure.

Starting Score: 826
Current Score: 829
Goal Score: 850


Take the myFICO Fitness Challenge
Super Contributor
Posts: 8,370
Registered: ‎11-12-2014
0 Kudos

Re: PC from Chase Freedom to Chase Sapphire Preferred


Dinosaur wrote:

joesbrat67 wrote:

I'm looking to solicit feedback from anyone on the forum boards that may have once had a Chase Freedom and PC's to Sapphire Preferred.  I thinking of doing so for the following reasons:

 

1) I already have an AMEX BCP and Cap1 QS which generates cash back

2) The Freedom card has a near 24% APR.  While I do try to PIF each month, that's not always the case

3)  I don't own a travel rewards card and have heard only good things from CSP card holders

4) On the member account site, it tells me that I am pre-qualified for the CSP at 16.49% APR - far less than the Freedom

 

While I know that I could app for the CSP, two things come to mind:

 

1) I doubt very much that I will be able to spend $4K in 3 months time.  It's possible - but not definite

2) I'm not sure I want an HP on my history right now.  Perhaps in a few months, when others drop off

 

I would appreciate feedback, in addition to app vs PC (and if I do PC, will they do a HP anyways?)

 

Thanks!


Going to confirm that doing a Chase P/C will not change your underlying terms and conditions. Generally, Chase leaves them in place so your hope for a better Apy would come from Chase lowering it (at your request) or you applying for a new product. Speak from experience. As always there are exceptions I am sure.


Chase does not lower APR, on request or otherwise. It's just something they refuse to do for whatever reason. The terms carry over in a PC and it will not change your APR.

Contributor
Posts: 75
Registered: ‎10-20-2014
0 Kudos

Re: PC from Chase Freedom to Chase Sapphire Preferred

Good to know.  Looks like app'ing for the card is the way to go, should I decide to do so.  Thanks!

.
Scores as of 05/02/2017: 797 - EQ, 795 - TU, 778 - EX

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
‡ Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.