Product change Chase Freedom to Sapphire?

[arjames01]

So I'm thinking of doing a product change on my Freedom card. Why? I don't find myself using most of the categories. The gas is nice, but I only spend about $25 a week in gas, sometimes less when gas gets cheap at Costco

I had thought about apping for the CS and then see about merging my freedom with the CS but I don't want to lose the age on the freedom. Is it possible to app for the CS and then a couple of months merge them to CS and keep the account history?

If that's not possible I think I'd rather do a PC. I spend a decent amount of money on restaurants and travel so I feel like the CS may be a bit better fit.

Any thoughts?

[arjames01]

Oh and I meant to add Costco doesn't take my visa anyhoo

[Luscher]

if you want to get the cs and keep the freedom you can apply for the sapphire and transfer the credit line over to the cs. You have to keep at least 500 on the freedom though to keep it open. or you can pc it. its up to you

[Luscher]

also another thing i forgot, if you did decide to close the freedom it will still show on your credit report for 10 years. and your utilization won't go up because you will transfer the entire freedom credit limit to the new CS.

[arjames01]

Good idea. I never thought to just move some of the credit over! 

[09Lexie]

You don't want to PC because you lose the sign up bonus. If the CS is what you want, just app for it. 

[arjames01]

I'm a little afraid to app, I just got my AMEX and over the summer I bought a new car, which resulted in quite a few inquiries. I believe I'm around 10-11. Other than that I have only applied for 2 cards in 2013 and 1 car. Is that too many inquiries? I thought when you shopped for a car they were all lumped together?

[Beane]

They usually lump all the inquiries for auto loans together because they know you are shopping around for the best rate.  Even if they decline you initially you should be able to recon and explain the inquiries to an analyst if that is the sticking point in your application.

[09Lexie]

---

@arjames01 wrote:

I'm a little afraid to app, I just got my AMEX and over the summer I bought a new car, which resulted in quite a few inquiries. I believe I'm around 10-11. Other than that I have only applied for 2 cards in 2013 and 1 car. Is that too many inquiries? I thought when you shopped for a car they were all lumped together?

---

Inq's for car loans are counted as 1 as far as FICO is concerned. They inqs are still listed individually on your CR's. 

[arjames01]

I went ahead and apped and got the dreaded 30 day email.