topic Re: Chase Credit Reallocation in Credit Cards

Chase Credit Reallocation

Anonymous — Thu, 07 Mar 2019 22:22:49 GMT

I got two chase cards that both offered me 25K credit (CSR and CF). I'm not going to be using the CF beyond the 1500 5% limit per quarter. That being said, I think it makes sense to reallocate the credit, seeing as I'll be putting a lot more on the CSR (correct me if I'm wrong).

I was thinking of moving 15K over to the CSR; however I read that there's a hard pull if a card goes over 35K. Can someone confirm whether this is true / how strict the 35K number is? If I put 35,000 will there be a hard pull? If I do 34,999?

Thanks for any guidance

Re: Chase Credit Reallocation

Priory_Man — Fri, 08 Mar 2019 01:51:40 GMT

I think your best bet would be to just call the number on the back of your CSR card and ask the rep, they should know for sure.

Re: Chase Credit Reallocation

Peteyglad — Fri, 08 Mar 2019 01:53:41 GMT

I had no hard pull when combining to get my current 67k limit, but that was a couple years ago.

Re: Chase Credit Reallocation

UpperNwGuy — Fri, 08 Mar 2019 01:56:05 GMT

I would leave the two cards at their current limits. They are both more than adequate.

Re: Chase Credit Reallocation

HeavenOhio — Fri, 08 Mar 2019 03:48:52 GMT

@UpperNwGuy wrote:
I would leave the two cards at their current limits. They are both more than adequate.

The OP didn't mention spending on the CSR. There's no way for us to determine whether 25k is adequate or not.

That said, we do know that there's only a finite amount that can be spent on a Freedom card while still making the most of the rewards. Given what we know, I think 40k/10k is a good split.

Re: Chase Credit Reallocation

iheartwings — Fri, 08 Mar 2019 04:13:09 GMT

I have done the Chase credit line shuffle on more than one occasion.

The last time I did it - I reallocated $$$ to my CSR to $40k without an issue (November 2018).

Hope that helps.

Re: Chase Credit Reallocation

Anonymous — Fri, 08 Mar 2019 06:19:28 GMT

Perfect! Did you secure message or call? Is there an issue for requesting this the same month in approved for the freedom? Also does allocation affect future apps at all like CFU or only total credit line?

Thanks!

Re: Chase Credit Reallocation

Anonymous — Fri, 08 Mar 2019 06:21:16 GMT

Exactly this is what I wanted to do @heavenohio

Re: Chase Credit Reallocation

wasCB14 — Fri, 08 Mar 2019 07:59:24 GMT

@HeavenOhio wrote:
@UpperNwGuy wrote:
I would leave the two cards at their current limits. They are both more than adequate.
The OP didn't mention spending on the CSR. There's no way for us to determine whether 25k is adequate or not.

That said, we do know that there's only a finite amount that can be spent on a Freedom card while still making the most of the rewards. Given what we know, I think 40k/10k is a good split.

If enough spend goes through Chase, maybe 20k/5k...with the other 25k on a new CFU.

Re: Chase Credit Reallocation

Anonymous — Fri, 08 Mar 2019 08:36:12 GMT

@wasCB14 wrote:
@HeavenOhio wrote:
@UpperNwGuy wrote:
I would leave the two cards at their current limits. They are both more than adequate.
The OP didn't mention spending on the CSR. There's no way for us to determine whether 25k is adequate or not.

That said, we do know that there's only a finite amount that can be spent on a Freedom card while still making the most of the rewards. Given what we know, I think 40k/10k is a good split.
If enough spend goes through Chase, maybe 20k/5k...with the other 25k on a new CFU.

I do all my spend through Chase. Spend about 1200-2000/mo on it, sometimes more (like 4-5k in certain months, cause I don't have a business card) depending on time of year; I wanna maintain about 5% util, so was thinking 40k on the CSR / 10K on the CF (since I'll only ever use $1500 per quarter max). As I recently got the CF, I don't imagine I'll be able to get the CFU anytime soon. So thinking about how I should allocate now and whether it'll result in a hard pull. All the posts about the 35K hard pull are from 1-2 years ago, no recent anecdotes.. so was looking to hear if anyone experienced it recently.

Thanks!

Edit: Income is in the 120-150K bracket, so I don't think this is 50% of my income; only worry is I intend to apply for CFU in the next 3-4 months (rather than 6-12 months as I've been advised), so worrying if they don't want to extend me too much credit and I'd have to reallocate/lower CL first then.

Re: Chase Credit Reallocation

HeavenOhio — Fri, 08 Mar 2019 15:30:16 GMT

The reps will tell you if your credit is going to be pulled. I'd be surprised to see that, though.

I'd do the 40k/10k split now. If further reallocation is desired after acquiring a Freedom Unlimited, adjustments can be made again.

Re: Chase Credit Reallocation

iheartwings — Fri, 08 Mar 2019 16:20:39 GMT

@Anonymous wrote:
Perfect! Did you secure message or call? Is there an issue for requesting this the same month in approved for the freedom? Also does allocation affect future apps at all like CFU or only total credit line?

Thanks!

I called in, and I did mine about 4 days after getting approved for the CFU at the beginning of December. Shuffling worked because I was able to allocate more credit to the cards I use more often. (Currently, my CF only has a limit of $2500, because I only use it for category spending.)

When I was approved for the CFU, they created the line by carving out $10k from my CSR. I am at my total max TCL with Chase, so all I can do is shuffle lines, and if I want another card with them, I'll have to make it from the TCL I have with them. (I did lose $500 when I closed my Marriott card in January, but relatively speaking, it wasn't worth the work to try to get that back.)

Re: Chase Credit Reallocation

CreditCuriosity — Fri, 08 Mar 2019 16:29:09 GMT

Chase shouldn't have a problem with this.. Call the number on back of your CSR and they will take care of you.. If for some reason they need to do more they will transfer you to lending and can decide from there how to proceed although I have never had an issue just in past posts regarding similar scenario this could happen. With those limits it appears you have a solid profile so I doubt lending would get invovled.