topic Re: $36,000 limit with Chase!! in Credit Cards

$36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:24:28 GMT

$30,000 on Slate

$3,000 on Freedom

and $3,000 on CSP

I'm so young, too!!! OMG. I feel so superior.

Wanna know my secret???!

Re: $36,000 limit with Chase!!

lg8302ch — Tue, 22 Apr 2014 06:28:49 GMT

Why 30K on Slate? Planning on carrying large balances? I would much rather have 10K on CSP and Freedom ..

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:30:55 GMT

Yeah I transferred my car loan to them on the Slate and also I'm going to Europe for a couple on months later this year.

But Chase lets you consolidate anytime any amount I love it!!! I love them!!!! And they love me back!!!! Who needs a husband when you have a 744 FICO and 100K in limits??!

Derek

Re: $36,000 limit with Chase!!

09Lexie — Tue, 22 Apr 2014 06:33:59 GMT

@Anonymous wrote:
$30,000 on Slate
$3,000 on Freedom
and $3,000 on CSP

I'm so young, too!!! OMG. I feel so superior.

Wanna know my secret???!

Really?

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:35:54 GMT

09 Lexie, what???

Re: $36,000 limit with Chase!!

asulaw — Tue, 22 Apr 2014 06:40:06 GMT

Wait, why in the world would you consolidate a vehicle onto a credit card? Unless you can pay down that balance in however months are left on your 0% APR, you're going to be paying a much higher interest rate than most auto loans.

And why would you want such a small CSP CL? You should definitely have that bad boy moved up towards the 10k limits if you're going to be doing some major spending. Chase Slate isn't a good card to have such a high limit on, sorry to say. But I suppose when you're all said and done you can move that limit right over to the CSP, huh?

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:44:55 GMT

Asulaw,

Exactly correctl--I can pay off my 11K loan (which had a 13% interest rate) off in 15 months (length of zero percent APR on Slate). I can any credit line to whichever card I want anytime. I have my slate limit at 30K b/c I hae a 13.5K balance on the acct., and I don't want it to show me maxing it out on my credit reports...(maxing it out to me is going over 50 percent of the credit line).

I don't use Slate for purchases--just to carry balances...i don't need high limits on CSP and Freedom since I don't need credit at all really (except for my car loan)...and Europe soon.

Re: $36,000 limit with Chase!!

asulaw — Tue, 22 Apr 2014 06:48:53 GMT

If you're going to Europe, you might want a bigger CSP just because of the waived fee. Just my opinion, I would move some of that over soon. It won't hurt your overall utilization because if 5k for instance is not being used on the Slate, or on the CSP, then you're still up 5k on your utilization.

Re: $36,000 limit with Chase!!

johnpalley — Tue, 22 Apr 2014 06:50:31 GMT

bruin did you have to show proof of income to get that 30k limit?

also how long did it take you to get to 30k?

i actually thought it would be too hard to reach 30k on the slate so i was thinkin freedom or saphire. i need high limits and the lowest apr possible so maybe i should rethink my strategy and get the slate

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 11:10:08 GMT

Asulaw (by the way are you getting your JD there?),

I plan to convert my CSP to the Saphire regular at the end of December b/c I don't wanna pay the annual fee (I'm cheap, lol). So..I plan to use my Bank of America Travel Rewards Visa which has no abraod transaction fee and NO annual fee yay!

Derek

Re: $36,000 limit with Chase!!

asulaw — Tue, 22 Apr 2014 06:53:45 GMT

(Thinking about the JD, but definitely going for an MBA soon after Undergrad)

Freedom/CSP/Checking combo is awesome if you like rewards, and having such a big limit across the board with Chase is nice after you move it around a bit. IMHO, I would keep the CSP and use that abroad! But I like Chase Rewards better than the BoA ones. I'm not a big BoA fan though.

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:54:48 GMT

John--

Finally! Somebody asks me for my method of acquiring such high limits. So, I take several hits on my reports for inquiries. I initially started with Chase Freedom in January 2013 at 1K. Then I would app for CLI and only get like 300 (I'm like **bleep**?!?!). They said, "My Cohen, your reports show too many inq....I'm like alright whatever..." Anyway, I apped then for a CSP. I forgot that limit. Anyway my method is apping for numerous accts....because a bank's job is getting people new accts., right?? So open a **bleep** ton of accts. (I did like 8 with Chase)...then immediately close them and consolidate them. )

Inq. will fall off soon i'm not worried...

Derek

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 06:57:57 GMT

ASULAW,

Don't do JD...There's no money in that. And honestly the MBA is wortless too. I have my MSN, MBA, RN, and NP certificates (Acute Care and Womens Health)....and the MBA is worthless.

Why should I do CSP? I don't wanna pay the annual fee...

Re: $36,000 limit with Chase!!

johnpalley — Tue, 22 Apr 2014 07:01:02 GMT

@Anonymous wrote:
John--

Finally! Somebody asks me for my method of acquiring such high limits. So, I take several hits on my reports for inquiries. I initially started with Chase Freedom in January 2013 at 1K. Then I would app for CLI and only get like 300 (I'm like **bleep**?!?!). They said, "My Cohen, your reports show too many inq....I'm like alright whatever..." Anyway, I apped then for a CSP. I forgot that limit. Anyway my method is apping for numerous accts....because a bank's job is getting people new accts., right?? So open a **bleep** ton of accts. (I did like 8 with Chase)...then immediately close them and consolidate them. )

Inq. will fall off soon i'm not worried...

Derek

what the hell lol your funny. i dont really wanna do that but do you think if i get a single slate card i can get up to 15-20k in 3-5 years if i keep asking for increases every 6 months? i want high limits and low apr cards just incase i need a loan for an investment in the future or something

Re: $36,000 limit with Chase!!

asulaw — Tue, 22 Apr 2014 07:00:33 GMT

@Anonymous wrote:
ASULAW,

Don't do JD...There's no money in that. And honestly the MBA is wortless too. I have my MSN, MBA, RN, and NP certificates (Acute Care and Womens Health)....and the MBA is worthless.

Why should I do CSP? I don't wanna pay the annual fee...

It's all relative, if you like the bonuses or you don't. But a lot of people praise the CSP/Freedom/Checking bonuses you can get. They give you some serious rewards and you can rack up a nice trip with a few extra bucks in your pocket. But if you like BoA, then go for it! It really all depends on what you like best.

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 07:02:17 GMT

John...

honestly idk. probs not. They like new accts. Why don't you do it? Honestly yeah it looks bad that I "opened new accts. then closed them..." but that can all be expained to lenders when (and if) the time comes to explain.... and the number of accts. doens't matter really as long as you're not maxed out. your util. rate matters.

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 07:03:43 GMT

ASU,

where can I get info on this Freedom/CSP/Checking bonsues?? Now i'm curious.

Re: $36,000 limit with Chase!!

johnpalley — Tue, 22 Apr 2014 07:06:58 GMT

@Anonymous wrote:
John...

honestly idk. probs not. They like new accts. Why don't you do it? Honestly yeah it looks bad that I "opened new accts. then closed them..." but that can all be expained to lenders when (and if) the time comes to explain.... and the number of accts. doens't matter really as long as you're not maxed out. your util. rate matters.

i just dont wanna bring down my average age of accounts that much. hmm i guess i just gotta go with my original strategy and get a saphire. bruin could you tell us a little more about how your bofa works overseas? are you saying instead of bringing cash on you and paying a % rate to convert to another currency you can just buy everything with your bofa and you pay no conversion fee?

Re: $36,000 limit with Chase!!

asulaw — Tue, 22 Apr 2014 07:08:02 GMT

@Anonymous wrote:
ASU,

where can I get info on this Freedom/CSP/Checking bonsues?? Now i'm curious.

http://ficoforums.myfico.com/t5/Credit-Cards/CSP-Freedom-Checking-Use-wisely/m-p/1355519/highlight/true#M376370

This is an awesome thread on it. It goes into detail on the math etc.

Long story short, CSP gives you access to rewards programs and using them effectively as well as earning those rewards points. Chase Freedom earns points, but cannot be used as points unless transferred over to the CSP. Checking account gives you an extra 10% on Freedom usage.

Re: $36,000 limit with Chase!!

Anonymous — Tue, 22 Apr 2014 07:11:06 GMT

John,

Yes no foreign transcation fee and NO annual fee for the card: apply here:https://www.bankofamerica.com/credit-cards/products/bankamericard-travel-rewards-credit-card.go

I really haven't thought about it too much but I think I am going to bring some cash---maybe...should I??