topic Re: How long before combining Chase limits? in Credit Cards

How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 19:07:24 GMT

Got CSP approved on Wednesday Oct 9, 2019. Had the Slate since January of 2019. How long should I wait before combining them? If such a wait is even neccessary....Thanks.

Re: How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 19:45:09 GMT

Only takes as long as it takes to send them a secure message online and then to have it done.

Now, the big thing to make sure happens is your bonus requirements....

So, what I would do is:

hit the bonus requirements,

move the limit from CSP to Slate,

then convert the Slate to a CSP to retain the history

(this part might take a little while to process before they can convert the card over)

ETA: since I don't know your 5/24 status or plans....

Drop the CSP during the CL shuffle to whatever remaining amount they state has to stay on it

Keep it open but as another Chase product like CF / CFU

--- I do this when I have leftovers w/ Chase, I call it parking a card for future use

-- If you go over 5/24 you'll still have a card you can convert if you're not eligible to open a new one

Re: How long before combining Chase limits?

UFGuy2006 — Fri, 11 Oct 2019 19:31:24 GMT

I agree with this approach.

Re: How long before combining Chase limits?

randomguy1 — Fri, 11 Oct 2019 20:05:06 GMT

@Anonymous wrote:
Only takes as long as it takes to send them a secure message online and then to have it done.

So, what I would do is:
hit the bonus requirements,
move the limit from CSP to Slate,
then convert the Slate to a CSP to retain the history
(this part might take a little while to process before they can convert the card over)

Why just not convert the Slate to Chase Freedom family card to retain history? Then after that, move limits via SM if needed.

Re: How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 20:19:35 GMT

There's a 1000 ways to skin a CC w/ Chase. It depends on how you want to use them and where you want the spend to be.

For longevity's sake moving the CL to Slate and converting it to CSP and the CSP that's new to something else protects it longer term if it doesn't see much use w/ the CSP spend being the priority.

If OP neglects the Slate for a long period of time it will just close out eventually due to non-renewal.

Re: How long before combining Chase limits?

randomguy1 — Fri, 11 Oct 2019 20:27:36 GMT

Got it. I was thinking it was a bit more complicated than needed adding that extra step but I understand your reasoning now. If proceeding with that step, are there any potential issues converting the new CSP to a Freedom or FU given they are at both intro 0% APR? (CARD act rules)

Re: How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 20:33:59 GMT

@randomguy1 wrote:
Got it. I was thinking it was a bit more complicated than needed adding that extra step but I understand your reasoning now. If proceeding with that step, are there any potential issues converting the new CSP to a Freedom or FU given they are at both intro 0% APR? (CARD act rules)

I wouldn't think so. Moving things around are easy.... but you do bring up a snafu of sorts.... 0% periods and such. This move / shuffle to the extent that I mapped out might have to wait until intro on the Slate is up.... in the meantime it could probably be converted to something else like CF/CFU until the CSP is also out of intro periods and restrictions as well. After those expire though the mapped out method would be preferred if the CSP is a keeper for long term use.

Shuffling limits though as it stands..... can be done once the cards are activated normally w/o any additional requirements.

Re: How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 20:56:14 GMT

@Anonymous wrote:
Got CSP approved on Wednesday Oct 9, 2019. Had the Slate since January of 2019. How long should I wait before combining them? If such a wait is even neccessary....Thanks.

I started out with the Slate, then got the Freedom. Even after a year with both, they wouldn't move the limit from the Slate. Anyways, fast forward to this past September, they finally agreed to move the limit and I later learned that the Slate needed to have no activity on it for at least 2 months, including payment activity. Even with the combination, my limit is only 3700. Not even enough to get another, more useful card. The Freedom is now my second lowest limit card... If it weren't for the bonus categories, I'd put it on permanent SD status.

Re: How long before combining Chase limits?

FieryDance — Fri, 11 Oct 2019 21:07:27 GMT

How do combined credit cards show on credit reports? Does the one getting absorbed just disappear as it never existed? Or does it show as closed by consumer/grantor as it got canceled?

Re: How long before combining Chase limits?

Anonymous — Fri, 11 Oct 2019 21:14:49 GMT

@FieryDance wrote:
How do combined credit cards show on credit reports? Does the one getting absorbed just disappear as it never existed? Or does it show as closed by consumer/grantor as it got canceled?

Depends on if you move 100% and close the donor card. You can opt to keep usually as low as $500 on the donor to keep it open / parked for later use.

If you opt to do 100% and close then it shows CLOSED on your report. It doesn't magically go away or anything.

Re: How long before combining Chase limits?

CramEiko — Fri, 11 Oct 2019 21:48:59 GMT

@Anonymous wrote:
@FieryDance wrote:
How do combined credit cards show on credit reports? Does the one getting absorbed just disappear as it never existed? Or does it show as closed by consumer/grantor as it got canceled?

Depends on if you move 100% and close the donor card. You can opt to keep usually as low as $500 on the donor to keep it open / parked for later use.

If you opt to do 100% and close then it shows CLOSED on your report. It doesn't magically go away or anything.

I went from CSP @ 21.**% to CF at the 1 year mark to avoid the AF. My pesky 21.**% remained on my account. Few months later I get an offer for the CFU at 17.**% and I said sure I'll bite. So as soon as I got accepted I switched my CF CL over to my new CFU. Chase didn't allow the entire amount to cross over, $500 had to remain on the account I closed. Done. Sure I had a new HP for the new card, but 4% less apr and I wanted that card anyways? Chase was CL chasing at that time. It had beat it by $400 with this CL merger.

The card I closed in good standing now shows as: Account closed by consumer

Good Luck! Just do what works best for you.

Re: How long before combining Chase limits?

ChargedUp — Sat, 12 Oct 2019 00:21:59 GMT

I moved CL from CSP to CFU while both had activity on them and had no problems...

Re: How long before combining Chase limits?

HighAchiever — Sat, 12 Oct 2019 00:29:14 GMT

This is good info... I hadn't thought about doing this! 🙌🏼

Re: How long before combining Chase limits?

HeavenOhio — Sat, 12 Oct 2019 15:14:33 GMT

I think the deal with the two month wait is if you want to do a card combination that preserves 100% of both limits. Otherwise, you'd leave a small amount behind on the card that's closing.

Re: How long before combining Chase limits?

Anonymous — Mon, 14 Oct 2019 07:12:48 GMT

I started with Shale, then got Freedom. Even after a year spent with both, they would not have moved the limit off the sheet.

Re: How long before combining Chase limits?

Anonymous — Tue, 15 Oct 2019 00:37:28 GMT

The Slate is less than a year old. Is it worth shuffling that much to save 10 months of account age? Will Chase see all the shuffling and delay it, or consider that for future apps or PCs and maybe deny down the road?

Re: How long before combining Chase limits?

HighAchiever — Tue, 15 Oct 2019 01:19:10 GMT

I think it's more up to the individual as to whether the 10 months makes a difference or not. On a thin profile it could mean the world, but on a long thick profile, it probably will just be a waste of time if the individual doesn't care...

Re: How long before combining Chase limits?

Anonymous — Tue, 15 Oct 2019 01:47:56 GMT

@HighAchiever wrote:
I think it's more up to the individual as to whether the 10 months makes a difference or not. On a thin profile it could mean the world, but on a long thick profile, it probably will just be a waste of time if the individual doesn't care...

Agreed, but I would be more concerned about the future with Chase. Maybe it doesn't matter, but maybe it makes a difference for future PCs and new accounts.

Re: How long before combining Chase limits?

HighAchiever — Tue, 15 Oct 2019 02:56:00 GMT

For sure...

Re: How long before combining Chase limits?

TheAuthorizedUser — Tue, 15 Oct 2019 03:07:59 GMT

Does the moving CL between cards work with cobranded Chase cards like the south west ones to a CSP?