topic Chase Question in Credit Cards

Chase Question

Anonymous — Mon, 26 May 2014 16:17:20 GMT

So, I currently have two Chase CC's: Freedom and Southwest RR. I was just approved for the Freedom a couple months ago and was given a rather low CL: $1500, so I moved some of my CL from my Southwest RR so that the total CL would be split between the two cards, $3250 each.

The Southwest RR Visa is just not meeting my needs and I'm thinking about closing it, especially becasue I just got approved for an AMEX SPG card which I think will work better with my travel needs than the Southwest RR Visa. My question is how much more of the CL do you think I can/should I transfer over to the Freedom before I close the Southwest RR Visa account?

Thanks folks!

Re: Chase Question

myjourney — Mon, 26 May 2014 16:19:14 GMT

@Anonymous wrote:
So, I currently have two Chase CC's: Freedom and Southwest RR. I was just approved for the Freedom a couple months ago and was given a rather low CL: $1500, so I moved some of my CL from my Southwest RR so that the total CL would be split between the two cards, $3250 each.

The Southwest RR Visa is just not meeting my needs and I'm thinking about closing it, especially becasue I just got approved for an AMEX SPG card which I think will work better with my travel needs than the Southwest RR Visa. My question is how much more of the CL do you think I can/should I transfer over to the Freedom before I close the Southwest RR Visa account?

Thanks folks!

All but $500.00

Re: Chase Question

youngandcreditwrthy — Mon, 26 May 2014 16:23:42 GMT

By couple of months, how long do you mean?

How long have you had the Chase SW?

Do you have checking with Chase or any other type of deposit account?

Also, consider your account management with Chase (low util, pif?- any defaults?)

Personally, I have received a higher limit on each approved card after the first one. Most people have.

Just food for thought!

Happy Memorial Day!! :-)

Re: Chase Question

Anonymous — Mon, 26 May 2014 16:27:44 GMT

They let me trasfer it all from my Slate to my CSP. I did it through online message.

Re: Chase Question

takeshi74 — Mon, 26 May 2014 16:40:55 GMT

@youngandcreditwrthy wrote:
Personally, I have received a higher limit on each approved card after the first one. Most people have.

Which is not what the OP experienced. One can't just rely on what "most" have or have not since it's the individual's credit that matters. My Chase limits have dropped as I've reached my internal limit with them.

Re: Chase Question

Anonymous — Mon, 26 May 2014 16:42:17 GMT

Thanks everyone for your responses. As far as the questions below:

By couple of months, how long do you mean? I was just approved for the Freedom in March.

How long have you had the Chase SW? I have had the Chase SW for just over 13 months - and aside from the sign-up bonus it hasn't really been worthwhile for my travel needs - mostly because the business trips I've had to take over the last year have been to destinations that didn't make sense for me to use Southwest to fly. In grad school I used to fly southwest all of the time, but where I have ended up as a faculty member, it just doesn't make as much sense.

Do you have checking with Chase or any other type of deposit account? I don't have checking/other accounts with chase. I bank primarily with my local CU and don't plan to change that anytime soon.

Also, consider your account management with Chase (low util, pif?- any defaults?) History with Chase is excellent. SW is PIF every month - charges on that card are reimbursed pretty quickly after travel. The util on my Freedom is just a bit over 20% so moving the CL to the freedom would be ideal because util would fall under 20%.

After you consider the above, it may be more advantageous for you to open a new card with Chase so that you can get a higher limit and essentially replace the card you no longer need altogether! And you'll prob get a higher limit. I appreciate the suggestion, just not interested in any other Chase products at the moment. Planning for the CSP in the long term but want to garden for a couple years and focus on paying off the debt I currently have. Thanks though!