topic Re: Closing Chase Sapphire in Credit Cards

Closing Chase Sapphire

Anonymous — Sun, 04 Jan 2015 07:13:38 GMT

Hello, since I have too many cards in my wallet now I'm planning to close my Chase Sapphire Preferred card, the least used card.

I sent a message about closing my account and I got a reply offering to transfer my Sapphire limit to my British Air's but 5k.

What's the catch?

Re: Closing Chase Sapphire

DiabolicallyRandom — Sun, 04 Jan 2015 07:15:08 GMT

Chase is really good about moving around limits. If they will allow it I would definitely do it.

Re: Closing Chase Sapphire

NRB525 — Sun, 04 Jan 2015 07:19:45 GMT

There's no catch. And, in fact, credit limits are hard won prizes here, so everyone tries to maintain them if they can. You did give up at least one, probably more, HP inquiries in the past to get this card and limit. Chase is prompting you with a gift.

They would like you to continue to use their cards, and keeping sufficient credit (based on your good payment history) is just good business for them.

Re: Closing Chase Sapphire

Anonymous — Sun, 04 Jan 2015 16:39:38 GMT

@NRB525 wrote:
There's no catch. And, in fact, credit limits are hard won prizes here, so everyone tries to maintain them if they can. You did give up at least one, probably more, HP inquiries in the past to get this card and limit. Chase is prompting you with a gift.
They would like you to continue to use their cards, and keeping sufficient credit (based on your good payment history) is just good business for them.

Thanks for the info!

Re: Closing Chase Sapphire

Membersince2013 — Sun, 04 Jan 2015 17:34:14 GMT

Chase is probably the most lenient when it comes to transferring credit limits. There's no catch..

Re: Closing Chase Sapphire

Anonymous — Sun, 04 Jan 2015 17:53:46 GMT

@Anonymous wrote:
Hello, since I have too many cards in my wallet now I'm planning to close my Chase Sapphire Preferred card, the least used card.

I sent a message about closing my account and I got a reply offering to transfer my Sapphire limit to my British Air's but 5k.
What's the catch?

You mean that they will transfer all but 5K of the limit to BA? I think you should be able to transfer all the CL if the card hasn't been used for 60 days or so. Check that this offer isn't one where the CSP stays open, if that's not what you want.

Re: Closing Chase Sapphire

ecxpa — Sun, 04 Jan 2015 18:41:54 GMT

Are you sure they said they would transfer all but 5K or all but $500. I have heard of them requiring you to leave 500 on a card when closing but never 5K. I just closed my Slate and Amazon Visa and they transferred the entire amounts to my Chase Sapphire

Re: Closing Chase Sapphire

B335is — Sun, 04 Jan 2015 18:53:14 GMT

Yeah they require you to keep 400 or 500 limit on the card you're closing. I would just call the number on the back of Sapphire card. It takes a couple of mins and will probably ask your annual income. There's no hard pull though.

Re: Closing Chase Sapphire

chalupaman — Sun, 04 Jan 2015 18:54:54 GMT

I did my CL consolidation via the secured message because when I tried requesting one by phone they wouldn't do it. I was able to transfer all but $500 of my SW card over to my AARP and they also said that if I wanted a full CL consolidation, I'd have to have absolutely no activity on the card that I want to transfer the limit from for at least a month.

Re: Closing Chase Sapphire

Anonymous — Sun, 04 Jan 2015 19:13:49 GMT

@ecxpa wrote:
Are you sure they said they would transfer all but 5K or all but $500. I have heard of them requiring you to leave 500 on a card when closing but never 5K. I just closed my Slate and Amazon Visa and they transferred the entire amounts to my Chase Sapphire

Yes, it is all but five thousand, according to the email reply.

I found this number on the backdoor page, is this the right number to call to ask for transferring credit limits?

888-245-0625 (Credit Analyst - Recons)

Thanks!

EDIT: I called regardless, can't believe they're actually in office today ... and the credit analyst allowed me to transfer the entire limit of my chase sapphire preferred over to british air. Wonderful!

Re: Closing Chase Sapphire

B335is — Sun, 04 Jan 2015 19:18:52 GMT

Congrats!

Re: Closing Chase Sapphire

sunkissed — Sun, 04 Jan 2015 19:26:06 GMT

@Anonymous wrote:
@ecxpa wrote:
Are you sure they said they would transfer all but 5K or all but $500. I have heard of them requiring you to leave 500 on a card when closing but never 5K. I just closed my Slate and Amazon Visa and they transferred the entire amounts to my Chase Sapphire
Yes, it is all but five thousand, according to the email reply.

I found this number on the backdoor page, is this the right number to call to ask for transferring credit limits?
888-245-0625 (Credit Analyst - Recons)

Thanks!

EDIT: I called regardless, can't believe they're actually in office today ... and the credit analyst allowed me to transfer the entire limit of my chase sapphire preferred over to british air. Wonderful!

Cool beans!