topic Re: Chase Amazon CL potential vs Freedom etc. in Credit Cards

Chase Amazon CL potential vs Freedom etc.

Anonymous — Fri, 27 Jan 2017 06:41:19 GMT

So I'm thinking about apping for the Chase Amazon Visa (Prime version as I'm a Prime member) but from what I see on the credit pulls database and reading on here most of the SLs are fairly low; I see most SLs for this card are in the $2k-$5k range with good credit scores and with excellent scores the max I have seen is $10k. This data seems to fall more in line with the Slate card, give or take. Then with the Freedom / FU it seems there are far more 5-figure approvals and of course when you step up to the Sapphire there are plenty of $15k-$30k SLs for those with excellent credit scores.

I've never had a Chase card and don't really want get stuck with a low SL (relatively) with the Amazon Prime card as I do spend a lot on Amazon and am known to make occasional "large" purchases.

Since I don't know much about Chase having never been a member with them, any insight provided by those on this forum would be helpful. I know that with Chase you can request a CLI by giving up another HP, but I'm not sure if this is something that can be done right away after you get the card or if you have to wait a certain amount of time. I also don't know if it's acceptable to call and recon your SL?

The only other thing I can think of is taking on another Chase card at the same time such as the Freedom for example, then combining/moving limits whenever that would be acceptable? I'm also not sure if Chase limits can be moved between all of their products, or if there are limitations.

Thank you for your insight everyone.

Re: Chase Amazon CL potential vs Freedom etc.

austinguy907 — Fri, 27 Jan 2017 07:00:46 GMT

BBS....

WHY?!?! Chase is so much of a game when it comes to policies compared to your other cards. I would tend to agree with your insight that co-brands tend to be lower limits sometimes with the exception of say Ritz which was handing out 30K all day long for a little while. The Chase branded ones seem to be consistently higher with opening CL's. For the most part moving CL's around is a SM away from making it happen. As for the 5% perk of having an Amazon branded card it's pretty easy to pick that up through other means like ebates instead of opening a new line. Disco usually has Amazon listed as a catagory as well at least it did during 2016.

I would just stay on the sideline for a few more months as other users cards age and see what the trend it instead of jumping on the band wagon right now.

Re: Chase Amazon CL potential vs Freedom etc.

Anonymous — Fri, 27 Jan 2017 07:10:35 GMT

I recently closed my Chase Freedom. Transferred the CL to my CSP. I now have one Chase card. I had the same question as the OP. The Chase Amazon Prime seemed to be the flavor of the month. My decision was I am done with co-branded cards. You never know when the relationship will end. I myself may apply for the Freedom Unlimited in a few months and then transfer my CSP line over to the FU to get rid of the annual fee on the CSP.

Re: Chase Amazon CL potential vs Freedom etc.

Anonymous — Fri, 27 Jan 2017 08:49:00 GMT

austinguy907,

You indirectly answered your own question about the "why" - It's that Discover doesn't offer 5% all year and I spend a lot on Amazon. I've been contemplating the other Amazon store card for almost a year now, but I've already got multiple Synchrony accounts and don't want another. This card has also been around for 12-13 years now; only the Prime version is new this month so it's not really a "new" product just an improvised existing decade-old+ product. Chase is also a lender that I've wanted to establish a relationship with for quite some time, but I never really had any desire for any of their products outside of perhaps the Freedom card for additional 5% off rotating categories. The Chase Amazon however is a card that I know I'd use year-round and since it's a Visa Signature that can be used anywhere which while I wouldn't plan to use it often outside of Amazon, it's good to know that I could.

Anyway, back to the limits question. Can limits be transferred from any Chase product to any other Chase product or are there restrictions? Does a certain amount of time need to elapse for this to be allowed? How do HP CLIs with Chase work... how soon can they be done from account opening, etc?

Re: Chase Amazon CL potential vs Freedom etc.

UncleB — Fri, 27 Jan 2017 09:50:00 GMT

@Anonymous wrote:
austinguy907,

You indirectly answered your own question about the "why" - It's that Discover doesn't offer 5% all year and I spend a lot on Amazon. I've been contemplating the other Amazon store card for almost a year now, but I've already got multiple Synchrony accounts and don't want another. This card has also been around for 12-13 years now; only the Prime version is new this month so it's not really a "new" product just an improvised existing decade-old+ product. Chase is also a lender that I've wanted to establish a relationship with for quite some time, but I never really had any desire for any of their products outside of perhaps the Freedom card for additional 5% off rotating categories. The Chase Amazon however is a card that I know I'd use year-round and since it's a Visa Signature that can be used anywhere which while I wouldn't plan to use it often outside of Amazon, it's good to know that I could.

Anyway, back to the limits question. Can limits be transferred from any Chase product to any other Chase product or are there restrictions? Does a certain amount of time need to elapse for this to be allowed? How do HP CLIs with Chase work... how soon can they be done from account opening, etc?

I'm not a good representation of a 'typical' Amazon Visa app experience (my approval was strange from beginning to card receipt) but I can contribute that my welcome letter stated that if I want to move some of the credit line from an existing Chase card to the new Amazon Visa to give them a call. All indications are that it will be as easy as others have stated.

Nothing was mentioned about a waiting period to do this, and others here have reported doing it right away as well (sometimes even as a condition of approval). That seems to be a 'perk' of Chase; they will seemingly let you move CLs from one account to another at will (on the other hand, all customer-initiated CLI requests are a HP and they won't budge on APRs).

Re: Chase Amazon CL potential vs Freedom etc.

Chris679 — Fri, 27 Jan 2017 10:20:31 GMT

@Anonymous wrote:
So I'm thinking about apping for the Chase Amazon Visa (Prime version as I'm a Prime member) but from what I see on the credit pulls database and reading on here most of the SLs are fairly low; I see most SLs for this card are in the $2k-$5k range with good credit scores and with excellent scores the max I have seen is $10k. This data seems to fall more in line with the Slate card, give or take. Then with the Freedom / FU it seems there are far more 5-figure approvals and of course when you step up to the Sapphire there are plenty of $15k-$30k SLs for those with excellent credit scores.

I've never had a Chase card and don't really want get stuck with a low SL (relatively) with the Amazon Prime card as I do spend a lot on Amazon and am known to make occasional "large" purchases.

Since I don't know much about Chase having never been a member with them, any insight provided by those on this forum would be helpful. I know that with Chase you can request a CLI by giving up another HP, but I'm not sure if this is something that can be done right away after you get the card or if you have to wait a certain amount of time. I also don't know if it's acceptable to call and recon your SL?

The only other thing I can think of is taking on another Chase card at the same time such as the Freedom for example, then combining/moving limits whenever that would be acceptable? I'm also not sure if Chase limits can be moved between all of their products, or if there are limitations.

Thank you for your insight everyone.

I think you are overthinking this. You are a prime member who spends a ton on Amazon. You like credit cards and you don't have one with Chase yet. Chase is pretty bad-ass. In my experience the only knock I would give them is the lack of easy SP CLI like Amex, Citi or Discover. Other than that they rock. I have PC from Slate to Freedom, I have upgraded to Freedom Visa Sig, I received a few auto CLI. They gave me my biggest ever SL with Marriott, etc, etc.

Pull the trigger on the card and let the CL take care of itself. If you are outspending the CL there is a good chance they will increase it. If not, you call em up and ask em.

Re: Chase Amazon CL potential vs Freedom etc.

kdm31091 — Fri, 27 Jan 2017 13:26:29 GMT

You can request a HP CLI whenever you want but typically people have better luck when the card has aged somewhat.

As far as the app itself, if you spend a lot on Amazon and would be paying for Prime anyway, it's a good card. Chase has their pitfalls -- they will not reduce APR, they rarely do SP CLIs -- but they aren't a bad lender.

Most Amazon limits seem to start around 5-10k, but unless you are truly spending thousands per month on Amazon, this should be a sufficient starting point, no?

Re: Chase Amazon CL potential vs Freedom etc.

fltireguy — Fri, 27 Jan 2017 13:33:12 GMT

OP- it's easy to transfer CL with chase... just message them with what you want to move.

Re: Chase Amazon CL potential vs Freedom etc.

Anonymous — Fri, 27 Jan 2017 16:19:21 GMT

Obviously a very old DP, but whenI got Chase Amazon in 2004, my SL was $25K. And, in old-timer accent "And $25K was real money then......" The card was new so maybe they were trying to promote it.

Once I got my CSP, many years later, I transferred a lot of the CL to that, not a problem at all.

Re: Chase Amazon CL potential vs Freedom etc.

Anonymous — Fri, 27 Jan 2017 16:20:57 GMT

Thanks for the replies thus far guys.

Yes, $5k-$10k is a respectable SL but it would be nice to be able to grow it as well. Maybe not to the point that some have grown their Freedom or Sapphire cards, but half way there would be worthwhile IMO. I have purchased a couple of big ticket items on Amazon in the past with other (high limit CCs) and taken a couple of cycles to pay them off. I just get uneasy about using a large portion of my CL and never want AA to be taken. While I know it's a long shot for that to happen on a solid profile, it's something I don't ever really want to worry about. I'm typically a PIF type person, so interest rates are irrelevant to me. If I ever do let a balance float it's never been more than 2 months. That said, I try to keep my balances in single-digit utilization and rarely ever out of the teens. One thing I would never do (outside of testing purposes) is to let a balance report that's 50%+ which is why when I consider CLs on my cards I usually ask myself what the largest amount is that I'd ever spend with that card and if I double that amount or maybe double it and add a little more I can be confident that the card will suit my needs and partial utilization OCD under any situation

It's good to know that balances can be transferred between all Chase products and essentially whenever you would like.

I guess the next question or decision that needs to be made is whether or not if I'm going to actually app for the Amazon card if I should app for another Chase product along with it so that I have the ability TO transfer limits down the road. OR, I can just app for the 1 product and go the HP route should I ever desire to raise the Amazon limit. Not sure there is really a "right" or "wrong" answer to this. I suppose I could app for the Amazon first and if I get a $10k SL be satisfied for now and roll with that... but I app and get approved with something like a $4k limit perhaps then app for another product right away as I could see myself needing to raise that limit.

I've heard mixed reviews from people applying for their first Chase product. Some have reported great success with their approvals while others have reported lackluster results with their approvals due to the unestablished previous relationship with Chase.

Re: Chase Amazon CL potential vs Freedom etc.

kdm31091 — Fri, 27 Jan 2017 16:55:23 GMT

I would just try not to overthink it. You will drive yourself crazy. If the card makes sense for you then go for it

Re: Chase Amazon CL potential vs Freedom etc.

Chris679 — Fri, 27 Jan 2017 18:43:27 GMT

There is a right answer to your question: don't app for a card you don't need just for the credit limit. Also if you pay it back quickly there should be no worries about using the full limit.

Re: Chase Amazon CL potential vs Freedom etc.

Anonymous — Sat, 28 Jan 2017 13:27:24 GMT

@Chris679 wrote:
There is a right answer to your question: don't app for a card you don't need just for the credit limit. Also if you pay it back quickly there should be no worries about using the full limit.

I wouldn't app for a card I didn't need just for the limit. If that were the case, I'd app for the Sapphire and probably get approved with a $20k-$30k limit out of the gate and never use the thing as I have no use for a travel card. The Amazon card I would use plenty though. Agreed there are no worries about using the full limit generally speaking when you PIF, but in the event of carrying a balance for a couple of cycles it's nice to not show 50%+ usage on a revolver if it can be avoided. That's all. It would also be nice to know that if I'm making a big ticket purchase that I'm not going to go over 50% of my CL. For me it's sort of a mental thing and it's just more mentally pleasing to know that I'm never over 50% on any TL, even if it's only for a cycle or two.