can you reallocate available credit to chase Slate during promotional 0% APR period?

[Anonymous]

Hi,

Just got a house and I have tons of crap to buy and fix and I already started on it. I'd like to apply for slate because they offer a free balance transfer. The only thing I'm afraid of is that I might get an unsatisfying limit which would be anything below 15k  OR that I'm not gonna get approved at all because chase BOUGHT MY MORTGAGE from the internet lender I originally used  I did not even make my first payment yet, its due November 1st but when I log to chase I see my mortgage on the left hand navigation below the credit cards.

Will they even approve me for Slate even though I already owe them 500k for the house? Besides the mortgage I already have a freedom and southwest cards with them. Freedom has 27k limit, its high because I transfered my limit from sapphire before I closed it. It was at 10k originally. Southwest is at 6k.

So I need to know if its possible to transfer limits into Slate during the promotional period. That way whatever they approve me for I'll be ok with because I could raise it by reallocating limit from my existing freedom card.

[Anonymous]

You could but it will result in a HP and there's a chance of a FR. 

[Anonymous]

There's no HP to move limits if you have the card already. Since you have a new budding relationship with collateral I'd walk into a branch to get the slate and ask for what you want.

[Anonymous]

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@Anonymous wrote:
There's no HP to move limits if you have the card already. Since you have a new budding relationship with collateral I'd walk into a branch to get the slate and ask for what you want.

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Not all issuers do a HP when moving lines, but Chase does. Chase does a hard pull for everything, except for apps that are within a couple of weeks of each other. 

[UncleB]

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@Anonymous wrote:

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@Anonymous wrote:
There's no HP to move limits if you have the card already. Since you have a new budding relationship with collateral I'd walk into a branch to get the slate and ask for what you want.

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Not all issuers do a HP when moving lines, but Chase does. Chase does a hard pull for everything, except for apps that are within a couple of weeks of each other. 

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I think you might be confusing Chase with BoA.  BoA is know to sometimes need a HP for a reallocation (YMMV), but I don't recall that ever being the case with Chase.

On the other hand, BoA is known to reuse a HP if it's less than 30 days old, however Chase generally does a HP for each and every app, with an exception sometimes being if the apps are on the same day (and in this case it's belived the HPs are simply merged by the bureaus, technically not reused.)

[Anonymous]

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@UncleB wrote:

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@Anonymous wrote:

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@Anonymous wrote:
There's no HP to move limits if you have the card already. Since you have a new budding relationship with collateral I'd walk into a branch to get the slate and ask for what you want.

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Not all issuers do a HP when moving lines, but Chase does. Chase does a hard pull for everything, except for apps that are within a couple of weeks of each other. 

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I think you might be confusing Chase with BoA.  BoA is know to sometimes need a HP for a reallocation (YMMV), but I don't recall that ever being the case with Chase.

On the other hand, BoA is known to reuse a HP if it's less than 30 days old, however Chase generally does a HP for each and every app, with an exception sometimes being if the apps are on the same day (and in this case it's belived the HPs are simply merged by the bureaus, technically not reused.)

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Correct.  Chase definitely doesn't do a HP for credit reallocation.  I'd still limit the number of times you do it though as it causes your accounts to go thru a review and I can recall at least one reported AA where the action that led to the review was a credit limit reallocation.  Still in the vast majority of times it is seamless (I've done it before).  Where Chase can not like it is when you open a card, get the bonus and then immediately close the card and transfer that limit to another Chase card.  For the OP though,  transferring some of his limit from an existing Chase card can be a good way to ensure that they have an adequate limit for his BT needs.

[Anonymous]

That's the last time I listen to a Chase rep. 

How hard is it to actually know how to do your job correctly. 

[Anonymous]

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@Anonymous wrote:

That's the last time I listen to a Chase rep. 

How hard is it to actually know how to do your job correctly. 

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Unfortunately receiving incorrect information from front line CSRs is common throughout the credit card world.  Fortunately, unlike most people, we have sites like this available to us where you can receive correct advice/information.  

[DeeBee78]

In my experience, neither Chase nor BoA do Hard Pulls for credit limit allocations.

Chase will do a SP, and if your credit profile supports it, will reallocate your limits. There have been cases where after requesting a reallocation people have been CLD'd, but I have not seen one of those in a long time. I recently sent them a SM asking about reallocation (I will be moving my AARP limit to my other two Chase cards), and they stated no Hard Pull will be done, but a Soft Pull will. 

Bank of America will ask you for your income and employment information, but they explicity state on the phone call that they are not doing a Hard Pull on your credit. I just did this a couple of weeks ago, and moved $11,000 from my Better Balance Rewards to my Cash Rewards card. 

[Anonymous]

I don't really care if its SP or HP, I already did it before and I'm pretty sure its not HP. Thats not my question.

My main question is: Can you reallocate limit during the Slate promotional 0% apr period?