topic Re: How exactly does a PC work? in Credit Cards

How exactly does a PC work?

CF_Frost — Wed, 19 Mar 2014 01:45:00 GMT

I understand you lose the signup bonus in most instances, but say I wanted to PC my Chase Sapphire to a Marriott Premier. Is there a certain timeframe I must have each card, or can I continuously rotate to avoid annual fees? Is there a hard pull for the PC?

Where I'm going with this, is that I mostly use my Sapphire (not preferred) for restaurant purchases, and the Marriott seems to have all the same restaurant rewards, travel benefits, no foriegn transaction fee, more reward categories, and the annual fee is cancelled out by the free night's stay each year.

Thoughts on a PC? I've only had my card for about four months. AAoA would be about a year and a half and my TU FAKO per Credit Karma is 765, 750 per Disvoer. No baddies. Only revolving accounts on my reports. Always PIF. 40K income.

Re: How exactly does a PC work?

CF_Frost — Wed, 19 Mar 2014 01:56:14 GMT

Also, does it hurt your AAoA or does it show as a continuous credit line?

Re: How exactly does a PC work?

-Wade- — Wed, 19 Mar 2014 02:00:11 GMT

@CF_Frost wrote:
Also, does it hurt your AAoA or does it show as a continuous credit line?

It will have the same history when you PC. No it will not hurt your AAoA

Re: How exactly does a PC work?

CF_Frost — Wed, 19 Mar 2014 02:22:57 GMT

Just as an FYI to others, I called Chase and they cannot PC between their cards and other "family" cards i.e. Marriott Cards. Has to be 12 months due to the new government regulations before you can PC. Based on internal score, no HP. Continuous trade line, reports the same. That's probably common knowledge to most of you guys.

Might look to app for the Marriott at some point when I definitely know I will be travelling more, and PC my Sapphire to a Freedom.

Re: How exactly does a PC work?

-Wade- — Wed, 19 Mar 2014 02:25:50 GMT

@CF_Frost wrote:
Just as an FYI to others, I called Chase and they cannot PC between their cards and other "family" cards i.e. Marriott Cards. Has to be 12 months due to the new government regulations before you can PC. Based on internal score, no HP. Continuous trade line, reports the same. That's probably common knowledge to most of you guys.

Might look to app for the Marriott at some point when I definitely know I will be travelling more, and PC my Sapphire to a Freedom.

sounds like a good plan to me good luck

Re: How exactly does a PC work?

CF_Frost — Wed, 19 Mar 2014 02:47:12 GMT

Given that I am not paying an annual fee on my Sapphire and intend to upgrade when eligible (10/31/14) and the annual fee for the Marriott would cancel out with the free yearly room, can anyone see and reasoning in not apping? I only have one inquiry on my TU, but opened the Chase account just five months ago. I want to open this one before I close my oldest line of credit (secured card from when I had no credit) but before the annual fee hits.

I think I can do this in one swoop (other than the PC to Freedom) by requesting my 3x CLI on my AmEx in June, apping for Marriott right after, cancelling my secured card before the $20 fee hits in July, and then PCing from CS to Freedom (hopefully Visa Signature version) at my 12 months in October/November. Just worried this would be a lot of acquired credit recently and would draw unwanted attention.

Thoughts?

Re: How exactly does a PC work?

CF_Frost — Wed, 19 Mar 2014 04:01:09 GMT

To alter my strategy, I assume that waiting until my new Amex limit reports would be beneficial as long as I get a decent CLI.

I currently have $16.5K in limits and it would only make a real difference in terms of Chase seeing my other limits if they do a big CLI, as I always PIF with them. Worst case they will see a $9K, $5K (with them) $2K and $500.

Probably doesn't really matter either way though.

Re: How exactly does a PC work?

angelcred10 — Wed, 19 Mar 2014 07:59:05 GMT

I wouldn't close the secured regardless, ask to have the Annual Fee lifted at least first.

Re: How exactly does a PC work?

takeshi74 — Wed, 19 Mar 2014 12:46:57 GMT

@CF_Frost wrote:
can anyone see and reasoning in not apping?

That's really a subjective matter. It's your call to make based on your needs/want/goals/priorities/etc.

@CF_Frost wrote:
I want to open this one before I close my oldest line of credit

Why? Closure doesn't affect AAoA until the account falls off 10 years down the road. It will, however, immediately affect utilization.

@CF_Frost wrote:
Just worried this would be a lot of acquired credit recently and would draw unwanted attention.

Whether or not it would really depends on your credit. Some have done much more with no adverse effect. Some have done less with adverse affect. We don't know enough about your specific siutation to provide even a guess. Prioritize your items and apply for them in that order.