topic Re: Advice on Chase in Credit Cards

Advice on Chase

jaytatis — Tue, 08 May 2018 16:14:57 GMT

so this past week i hit up the Secure Message to consolidate my Freedom cards.

they both had 5000 limits, i hit them up stated what i wanted to do, they said the only way to transfer the whole

limit was that there had to be no activity for a month otherwise 4500 would be transfered and 500 would be held and

the account would be closed. i opted to wait it out for the next statement to close.

i messaged them again stated what i wanted to do. they ended up doing the exact opposite of what i wanted. they moved

4500, and closed the other account with 500. i called customer service told them that the Secure Message rep stated it was possible.

they place me on hold, then come back and give me a typical response which i thought was bullsh*t. says a couple months ago

that was the case but now if you put it through the computer does it for you, and we are unable to override for the full amount.

Cool. so im out of 500 no big deal lol, but ive been tryna grow that account since its been stuck at 5000 for about 8 years, now its 9500

with the consolidation. should i opt for a hard pull CLI or apply for the CSP and then transfer to the Freedom and close the CSP dont want an annual fee.

i have BOA, Discover, Amex x2, Citi x 2 all of which have a CL of 20000+

thanks for tips

Re: Advice on Chase

FinStar — Tue, 08 May 2018 16:22:19 GMT

You can request a CLI or apply for a new card, but is the only reason you're doing this would be to recover $500?

There's mixed results on the CLI side of things, but it's ultimately up to you to decide whether opening/closing a new account really makes sense (unless you are planning on collecting the SUB) or be ok with whatever the HP yields as far as a CLI.

Re: Advice on Chase

jaytatis — Tue, 08 May 2018 16:24:19 GMT

the 500 would not be the reason.

but ive been reading up on here that requesting a HP CLI on a card rarely gets you anything good

vs applying for a new card and transferring limits.

Re: Advice on Chase

FinStar — Tue, 08 May 2018 16:42:29 GMT

Typically, as long as an individual's profile supports it, applying for a new Chase CC tends to yield better results than a CLI.

Re: Advice on Chase

iced — Tue, 08 May 2018 17:56:50 GMT

@FinStar wrote:
Typically, as long as an individual's profile supports it, applying for a new Chase CC tends to yield better results than a CLI.

I wonder if the evidence points to this because someone apps for a card and gets a $20k SL but may only ask for a $10k CLI in fear that a $20k one would be declined. This would certainly explain why CLIs look like they yield worse results.

Re: Advice on Chase

MakingProgress — Tue, 08 May 2018 21:16:36 GMT

@iced wrote:
@FinStar wrote:
Typically, as long as an individual's profile supports it, applying for a new Chase CC tends to yield better results than a CLI.
I wonder if the evidence points to this because someone apps for a card and gets a $20k SL but may only ask for a $10k CLI in fear that a $20k one would be declined. This would certainly explain why CLIs look like they yield worse results.

I don't think a 10K CLI would at any time be considered as poor results. When people talk about poor results I believe they are referring to getting no CLI for extended periord or perhaps 500 - 1000 at a time for hil CL cards.

Re: Advice on Chase

jaytatis — Tue, 08 May 2018 22:05:09 GMT

i also believed im pre apporved for the CSP cause its checked green under "your offers" when i log into chase

Re: Advice on Chase

FinStar — Tue, 08 May 2018 22:09:29 GMT

As long as you don't fall under the 5/24 restriction with any existing accounts, you'd be alright to give it a whirl and see what that yields. If approved, then you can shift CLs as you wish.

Re: Advice on Chase

jaytatis — Tue, 08 May 2018 22:17:08 GMT

^thanks for the feedback, going to apply in a bit.

another question i saw people saying for the CSP they keep 5000, when you consolidate is that true or is it gonna be

the 500 like they did to me before . thanks again

Re: Advice on Chase

FinStar — Tue, 08 May 2018 22:31:05 GMT

The $5K threshold on CSP is to retain the Visa Signature level. However, often times some folks have reduced their lines below that CL and still maintained their Signature level, but YEMV.

If you decide at some point to reallocate the entire CSP CL, then it's likely that $500 would not be able to get moved. I've never had any issues in the past with moving an entire CL, but haven't done so recently so it's possible it's all computer driven.

Re: Advice on Chase

MrDisco99 — Wed, 09 May 2018 03:28:35 GMT

I'm pretty sure the minimum limit on the CSP is $5K, so you would have to leave at least that much on it.

As for the CLI vs. signing up for a new card, both will cost an HP (or possibly multiple with Chase), but a new account with give you new earning optimization possibilities and a signup bonus, which you wouldn't get with a CLI. I can't think of where requesting a HP CLI would be more advantageous than using that HP toward a new card... if you're under 5/24 that is.

Re: Advice on Chase

FinStar — Wed, 09 May 2018 03:57:18 GMT

@MrDisco99 wrote:
I'm pretty sure the minimum limit on the CSP is $5K, so you would have to leave at least that much on it.

As for the CLI vs. signing up for a new card, both will cost an HP (or possibly multiple with Chase), but a new account with give you new earning optimization possibilities and a signup bonus, which you wouldn't get with a CLI. I can't think of where requesting a HP CLI would be more advantageous than using that HP toward a new card... if you're under 5/24 that is.

Not to reallocate. Only to maintain Visa Signature benefits. So, if the OP gets approved for CSP with a CL of $8K, then most (except for $500) can be reallocated.

Re: Advice on Chase

MrDisco99 — Wed, 09 May 2018 11:53:01 GMT

@FinStar wrote:
@MrDisco99 wrote:
I'm pretty sure the minimum limit on the CSP is $5K, so you would have to leave at least that much on it.

As for the CLI vs. signing up for a new card, both will cost an HP (or possibly multiple with Chase), but a new account with give you new earning optimization possibilities and a signup bonus, which you wouldn't get with a CLI. I can't think of where requesting a HP CLI would be more advantageous than using that HP toward a new card... if you're under 5/24 that is.
Not to reallocate. Only to maintain Visa Signature benefits. So, if the OP gets approved for CSP with a CL of $8K, then most (except for $500) can be reallocated.

But isn't the CSP a mandatory Visa Sig?

I can't speak from experience. I've never held the card. Is this something you've done?

Re: Advice on Chase

Anonymous — Wed, 09 May 2018 13:37:15 GMT

@MrDisco99 wrote:
I'm pretty sure the minimum limit on the CSP is $5K, so you would have to leave at least that much on it.

As for the CLI vs. signing up for a new card, both will cost an HP (or possibly multiple with Chase), but a new account with give you new earning optimization possibilities and a signup bonus, which you wouldn't get with a CLI. I can't think of where requesting a HP CLI would be more advantageous than using that HP toward a new card... if you're under 5/24 that is.

Well, in addition to the HP(s), the new card will impact AAoA whereas the CLI wouldn't. But whether that actually matters much in reality....

In my anti-CLI mode, I should point out that $9,500 is much more than enough to take full advantage of the Freedom's 5% earnings.

Re: Advice on Chase

UpperNwGuy — Wed, 09 May 2018 14:50:08 GMT

Why are you worrying about $500? Forget about and move on with your life. You have plenty of credit.

Re: Advice on Chase

Anonymous — Wed, 09 May 2018 23:56:49 GMT

Okay, maybe it's time to app for a new card with them then. After 8 years of being stuck at $5K.

Certainly is less work that what you'v been through combining limits, and cloisng account.