topic Re: My CSP and CFF situation in Credit Card Applications

My CSP and CFF situation

Mdowning30 — Thu, 08 Dec 2022 12:52:28 GMT

My Chase Freedom Flex account will be 1 year old in January and my Sapphire Preferred is 6 months now, eligible for a CLI. Im thinking of upgrading to the Reserve, that would instantly give me at the very least $10K+ and drop my utilization which is currently at 15%, thus the hard inquiry would be worth it for me. I know i cant have both Sapphires, but do i have to PC my Flex to the Reserve because that account is 1 year old or will they let me PC my CSP account ? I been with Chase going on 9 years.

Re: My CSP and CFF situation

coldfusion — Thu, 08 Dec 2022 15:56:10 GMT

@Mdowning30 wrote:
My Chase Freedom Flex account will be 1 year old in January and my Sapphire Preferred is 6 months now, eligible for a CLI. Im thinking of upgrading to the Reserve, that would instantly give me at the very least $10K+ and drop my utilization which is currently at 15%, thus the hard inquiry would be worth it for me. I know i cant have both Sapphires, but do i have to PC my Flex to the Reserve because that account is 1 year old or will they let me PC my CSP account ? I been with Chase going on 9 years.

Chase can't legally perform either of these proposed upgrades until the original card is at least a year old because of the CSR's larger AF.

If the combined CL of both cards is higher than $10K you should be able to reallocate CL from the CSP to the CFF and upgrade the CFF, allowing them to close the CSP, without a hard pull being necessary. The $5K mininum SL for the CSP and $10K mininum SL for the CSR are exactly that; Chase does allow credit limits to be transferred from each of those cards such that the new CL is below the $5K CSP/$10K CSR thresholds.

Re: My CSP and CFF situation

Mdowning30 — Thu, 08 Dec 2022 17:42:13 GMT

@coldfusion It would count as a CLI since both cards are under $10K.

Re: My CSP and CFF situation

coldfusion — Thu, 08 Dec 2022 18:48:14 GMT

@Mdowning30 wrote:
@coldfusion It would count as a CLI since both cards are under $10K.

The point I was trying to make was that if the combined limit of 2 existing cards was at least $10.5K you would generally be able to shift enough limit from 1 card to the other so the one to be product-changed would have a limit of at least $10K before you actually requested the product change. In most cases that's allowable even if the end result is a CSP with a credit limit of less than $5K.

Even if you requested and were approved for a CLI before requesting a product change a rule of thumb with Chase is to always try to move as much limit off a card to be closed as possible before actually closing it.

Re: My CSP and CFF situation

OmarGB9 — Sat, 10 Dec 2022 03:56:01 GMT

Am I understanding correctly that you're saying that by upgrading your CSP to CSR, you'd automatically get a $10k limit? If so, that's not how it works. First, the card would need to be at least a year old, due to CARD Act and going up to higher AF.

Secondly, an upgrade wouldn't mean an automatic CLI. Unless you're saying you'd first request a CLI on your CSP, but then, there's no guarantees that it would get to the $10k minimum, unless you're practically already there.

Re: My CSP and CFF situation

Mdowning30 — Mon, 12 Dec 2022 03:24:28 GMT

Let me clarify...I would have to upgrade my Freedom Flex which will be 1 year old in January. I can't PC up my CSP because it's only 6 months old. My card limits are in my signature, so it would be a CLI because the minimum on the CSR is $10,000.

Re: My CSP and CFF situation

FinStar — Mon, 12 Dec 2022 03:31:38 GMT

@Mdowning30 wrote:
Let me clarify...I would have to upgrade my Freedom Flex which will be 1 year old in January. I can't PC up my CSP because it's only 6 months old. My card limits are in my signature, so it would be a CLI because the minimum on the CSR is $10,000.

So, you're looking to PC Freedom FLEX into CSR, provided Chase can approve a CLI of at least $7K? It's unlikely they'll approve it that high by next month with the scores listed and overall profile, but you can always try.

I can't recall if any DPs exist of being able to PC directly into CSR from any Freedom product, but I could be wrong (someone could chime in if anything). I was under the assumption you were looking to CLI your CSP and then once CSP was a year old then you could upgrade provided CSP could get a CLI above $10K.

Re: My CSP and CFF situation

OmarGB9 — Mon, 12 Dec 2022 06:46:53 GMT

@FinStar wrote:
@Mdowning30 wrote:
Let me clarify...I would have to upgrade my Freedom Flex which will be 1 year old in January. I can't PC up my CSP because it's only 6 months old. My card limits are in my signature, so it would be a CLI because the minimum on the CSR is $10,000.
So, you're looking to PC Freedom FLEX into CSR, provided Chase can approve a CLI of at least $7K? It's unlikely they'll approve it that high by next month with the scores listed and overall profile, but you can always try.

I can't recall if any DPs exist of being able to PC directly into CSR from any Freedom product, but I could be wrong (someone could chime in if anything). I was under the assumption you were looking to CLI your CSP and then once CSP was a year old then you could upgrade provided CSP could get a CLI above $10K.

This was my understanding too. Hence why I was trying to clarify OP's thought process. I was also curious about the CLI portion cause OP is speaking as if the amount of CLI (if approved at all) will be guaranteed to get them to $10k.

Re: My CSP and CFF situation

Remedios — Mon, 12 Dec 2022 17:13:08 GMT

In order to do a PC (after first year), limit on CSP must be $10,000.00 prior to requesting PC. You do not get increase just because you want to PC and/or in process of doing a PC.

Are you banking on Chase giving you increase prior to requesting PC or are you going via HP for increase?

The only other path is to gut another chase card by moving most of credit line to CSP, but based on your signature, that's not happening.

Keep in mind, Chase probably won't entertain the CLI idea while you're over 5/24, HP, SP, and auto CLI are all no-go in the presence of credit seeking

I'm also quite unsure what do you mean by "it's six months old, eligible for increase".

Chase doesn't have any set period of time to request CLI, they tend to be a very mixed bag in terms of who gets them and how much.

I cannot say for sure, but you either misunderstood how that process works or you're just hoping it works.

Anyway, good luck if you decide to ask for HP increase, definitely a DP.

Re: My CSP and CFF situation

Mdowning30 — Mon, 12 Dec 2022 20:41:58 GMT

Last time i checked to get a HP CLI request on a chase card it had to be atleast 6 months old, thats why i waited until the 6th-7th month on my, at the time, Freedom Unlimited i asked and recieved a CLI of $1500. So im willing to do another HP for an increase i know its not 100% certain, but i have gone against the grain alot this year and came out with unexpected approvals for my scores. Ill post any updates with DP's.

Re: My CSP and CFF situation

Mdowning30 — Thu, 15 Dec 2022 00:13:39 GMT

I just got a CLI on my Flex to $7500 !

Re: My CSP and CFF situation

CaptJOB — Thu, 15 Dec 2022 00:22:01 GMT

If I were you I would just wait until your CSP is a year old and then reallocate limits and PC. Moving CL over to the CFF and closing or downgrading the CSP that you just got a SUB on to get a CSR seems like too much. Maybe I'm wrong but I wouldn't risk AA from Chase. Especially when the only advantage I can think of with the CSR at this point is Priority Pass? Or if you have five figures of travel spend the 3x vs 2.1x earn rate?

Re: My CSP and CFF situation

Remedios — Thu, 15 Dec 2022 00:49:56 GMT

Since OP has received increase, this thread is closed for additional messages