Should I convert to Chase Freedom SIGNATURE?

[Anonymous]

Thanks for your input, everyone! 

I'm going to put a little more thought into this.  Another idea is to redistribute my 2 Chase credit limits so that I would have a $49,000 credit limit on my non-Signature card, and a $13,600 credit access line on a Signature card. 

Thanks again!

[Anonymous]

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@Anonymous wrote:

I don't know how to post screenshots...

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stef37:

Thanks for all of your help!

Here's a thread on how to post screenshots:

http://ficoforums.myfico.com/fico/board/message?board.id=forumsfeedback&message.id=1010

[haulingthescoreup]

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psychic wrote:

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@Anonymous wrote:

I don't know how to post screenshots...

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 stef37:

Thanks for all of your help!

Here's a thread on how to post screenshots:

http://ficoforums.myfico.com/fico/board/message?board.id=forumsfeedback&message.id=1010 

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I think it's a ton easier with the GE, especially now after the upgrade, but this works for us hard-core html propeller-beanie types.

[Anonymous]

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@Anonymous wrote:

In late 2005, I purchased a car using a Chase balance transfer check.  In September of this year, I paid off that balance.   As a result, this account shows a relatively high Largest past balance:

Currently, this a non-Signature Chase Freedom card.  I contacted Chase today and was told that if I converted this card to a Signature Freedom, my credit history, including that $26,027 "Largest past balance" would remain unchanged.  I was also told that I could take $4273 (the difference between my $30,300 Credit limit and the $26,027 "Largest past balance" ) of this credit limit and apply it to my other Chase card. 

I never thought I'd ask this question:  Should I convert to the Chase Freedom Signature card?

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I finally converted my card this morning to a Chase Freedom World MasterCard.  I decided that I could probably use another MC (my other MC is with Citibank).  

I currently have 2 Chase Freedom cards.  I took $5300 of my credit line and applied it to my other Chase Visa card's credit limit.  So, I now have a $25,000 credit access line on the World MasterCard, and a $37,600 credit limit on my Freedom Visa card.  On my credit reports, the World MasterCard's $25,000 credit access line won't show, but the "Highest past balance" is $26,027--that works to my advantage. 

I do plan to PIF monthly, before my statement date, just to be safe!

[Scamp]

WTG, psychic.

I hope my credit grows up to be like yours!

And you can bet I take notes on the things you, in particular, do and don't do, in an effort to help make that happen.

[Anonymous]

Thank you, Scamp!

I'm hoping I made the right decision about this conversion.

I need a MasterCard when I shop at Sam's Club (they don't accept Visa or AMEX).  I feel a little uneasy using my Citibank Dividends Platinum Select MC for rewards these days--I'd rather earn rewards dollars on my Chase Freedom card.  So, I decided to convert from Visa to World MasterCard rather than to Visa Signature.

I'll let everyone know if there are any other quirks related to these no pre-set spending cards that haven't already been discussed!  Right now, I think I've learned a lot from other cardholders' mistakes!

[Anonymous]

Hey psychic,

Seems like old things are new again!  I missed your post a few months ago and am smiling as I think of you switching to the signiture card!  I assume that there is some use you can make of the benefits offered by the signiture, else why even consider the switch?  Or do you just like the idea of switching because the high highest balance you have will make it a painless switch?  If nothing else, it helps to keep everyone else in the know as far as how things work.

Later,

krystofur

[Anonymous]

Hi krystofur!

I learned so much about no pre-set spending limit cards from you and Dawn!  You two were our Forums' pioneers with these cards!

When I decided I wanted another MasterCard, and obtain it through a product change, this card seemed like the logical choice.  Since the Highest past balance was about $26,000, it appeared to be the perfect choice for a Signature or World card:  I wouldn't have to do crazy things like max out the account, then pay the balance in full before the closing date, in order to establish a decent high balance.

I'll take advantage of a few of the World card's benefits, such as hotel upgrades, or occasionally, concierge services.  Many benefits will go unused.

I'll be keeping an eye on my credit reports for the next few months.  I'm hoping that I've learned how to avoid problems caused by reporting issues. 

Maybe in a few months, I might be posting "I converted my World MasterCard to a Platinum MasterCard! "