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Regular Contributor
jaraico
Posts: 104
Registered: ‎03-07-2013
0

chase credit lines question

i have to cards from chase, csp with 7.5k and freedom with 3k i want to reverse the credit limits.

my hesitation comes from the fact that my csp has reported a balance of 3100 before so if i reduce the limit to 3k would it look like i spent past my limit?

should i keep it at 4k limit?

 

thanks in advance!

Barclays TU: 760 MyFico EX: 746 EQ:?

Frequent Contributor
jenn_bar
Posts: 315
Registered: ‎05-24-2013
0

Re: chase credit lines question

[ Edited ]

In regards to the extra spending, you should be okay as it is a Visa Signature and therefore there is no true credit limit. As long as you pay it off by the due date.

 

However, I'm not sure what the mimum required "credit limit" is required with a Visa Signature (for your CSP). It may be $5k with Chase so they may require you to keep at least that much on the card.

It's up to you what to do with the credit limit. Whatever works for you!

Moderator
09Lexie
Posts: 25,030
Registered: ‎09-13-2012
0

Re: chase credit lines question

The min cl for the CSP is $5k. If you want a lower cl you'll have to do a PC to a CS- assuming you are eligible

Valued Contributor
FinStar
Posts: 5,156
Registered: ‎10-21-2012
0

Re: chase credit lines question


09Lexie wrote:

The min cl for the CSP is $5k. If you want a lower cl you'll have to do a PC to a CS- assuming you are eligible


+1

 

The CSP minimum CL threshold is $5K, it cannot be lowered - unless like Lexie mentioned above, PC to CS.

Frequent Contributor
Transmogrifying_Bee
Posts: 258
Registered: ‎12-01-2012
0

Re: chase credit lines question

[ Edited ]

FinStar wrote:

09Lexie wrote:

The min cl for the CSP is $5k. If you want a lower cl you'll have to do a PC to a CS- assuming you are eligible


+1

 

The CSP minimum CL threshold is $5K, it cannot be lowered - unless like Lexie mentioned above, PC to CS.


Did Chase increase their minimum CL's for the CSP card?  According to Credit Karma data, about 27% of CSP cardholders have a CL of LESS than $5K.  For the CS (non-preferred) card, it's about 32% less than $5K.  (Not too big of a difference, considering that both versions of the Chase card have the same underwriting requirements.)  Although it seems that ALL of the CSP card approval mentions I've seen in this Forum are $5K CL's or higher! 

myFICO SCORES (7/14): EQ 790 || EX 799 || TU 791 | Discover FICO (8/14) TU 791 *** FICO GOAL: 800+ *** TOTAL CL: $77.4K
FAKO SCORES (8/14): Credit Karma (TU) 790 || Credit Sesame (EX) 801 || Credit.com (EX) 802 || Quizzle (7/14) VS3.0 EQ 812

Amex Green NPSL || Amex BCE 24K || PayPal Extras MC 15K || Chase Sapphire Visa Sig 12K || Chase Freedom Visa Sig 10K
Discover it 8.5K || Citi Diamond Preferred MC 7.9K - - [(8/14) CLOSED CapOne QS/VentureOne cards to simplify my line of cc's.]
Valued Contributor
FinStar
Posts: 5,156
Registered: ‎10-21-2012
0

Re: chase credit lines question


Corgihound wrote:

FinStar wrote:

09Lexie wrote:

The min cl for the CSP is $5k. If you want a lower cl you'll have to do a PC to a CS- assuming you are eligible


+1

 

The CSP minimum CL threshold is $5K, it cannot be lowered - unless like Lexie mentioned above, PC to CS.


Did Chase increase their minimum CL's for the CSP card?  According to Credit Karma data, about 27% of CSP cardholders have a CL of LESS than $5K.  For the CS (non-preferred) card, it's about 32% less than $5K.  (Not too big of a difference, considering that both versions of the Chase card have the same underwriting requirements.)  Although it seems that ALL of the CSP card approval mentions I've seen in this Forum are $5K CL's or higher! 


It's always been $5K for the CSP, those are the underwriting thresholds.  The underwriting requirements for CS and CSP are similar, but not exactly the same though.  Also, Credit Karma may likely not make a distinction between those cardholders who may have originally been approved with CSP at $5K (or higher) and later downgraded to CS and/or swapped CLs with another product.

Established Contributor
newUser0
Posts: 935
Registered: ‎12-13-2013
0

Re: chase credit lines question

Oh I thought Even CS is also a Visa Signature card and that oo requires $5k CL.

Frequent Contributor
Transmogrifying_Bee
Posts: 258
Registered: ‎12-01-2012
0

Re: chase credit lines question


newUser0 wrote:

Oh I thought Even CS is also a Visa Signature card and that oo requires $5k CL.


It certainly can be a Visa Signature, if not always (?).  I got mine a few months ago with a $10K CL and in the Visa Signature version.  And I've also seen numerous participants in this Forum receive CS cards with $5K CL's and Visa Signature status.

myFICO SCORES (7/14): EQ 790 || EX 799 || TU 791 | Discover FICO (8/14) TU 791 *** FICO GOAL: 800+ *** TOTAL CL: $77.4K
FAKO SCORES (8/14): Credit Karma (TU) 790 || Credit Sesame (EX) 801 || Credit.com (EX) 802 || Quizzle (7/14) VS3.0 EQ 812

Amex Green NPSL || Amex BCE 24K || PayPal Extras MC 15K || Chase Sapphire Visa Sig 12K || Chase Freedom Visa Sig 10K
Discover it 8.5K || Citi Diamond Preferred MC 7.9K - - [(8/14) CLOSED CapOne QS/VentureOne cards to simplify my line of cc's.]
Valued Contributor
FinStar
Posts: 5,156
Registered: ‎10-21-2012
0

Re: chase credit lines question


newUser0 wrote:

Oh I thought Even CS is also a Visa Signature card and that oo requires $5k CL.


CS can be either Signature or non-Signature depending on the individual's creditworthiness.

Regular Contributor
Apinzon2374
Posts: 119
Registered: ‎11-10-2013
0

Re: chase credit lines question

If you have the Visa Signature version of the CS with a $5000 limit and decide to shift some credit to a different Chase CC, would it remain a Visa Signature even though it's CL is lower than $5000?

Capital One Quicksilver | Chase Freedom | Chase Sapphire | AMEX Blue Cash Everyday
Scores: EX: 725 | TU:742

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