topic Re: Applying for chase cc to transfer CL in Credit Cards

Applying for chase cc to transfer CL

Michael982 — Wed, 20 Aug 2014 00:39:46 GMT

I noticed people mentioning applying for a chase card for the CL transfer but no threads for it. Is this commonly done? Also how long would you wait before transferring the CL? Is this something that's frowned down upon by chase lending services?

Re: Applying for chase cc to transfer CL

maiden_girl — Wed, 20 Aug 2014 00:46:08 GMT

Are you suggesting applying for a Chase card just to transfer the credit limit to an existing card? Why not just take the HP and get a CLI instead of ruining your AAoA?

Re: Applying for chase cc to transfer CL

jamesdwi — Wed, 20 Aug 2014 00:59:59 GMT

@maiden_girl wrote:
Are you suggesting applying for a Chase card just to transfer the credit limit to an existing card? Why not just take the HP and get a CLI instead of ruining your AAoA?

because you are far more likely to get a new card with a great limit than to get a CLI via chase, they like expanding your relationship with them even if it costs them a joining bonus.

Re: Applying for chase cc to transfer CL

Michael982 — Wed, 20 Aug 2014 01:30:33 GMT

Agreed its way easier to get approved for a card. Also I'm just trying to get advise on this subject and come out more knowledgable. Has anyone done this before and how long did you keep the card before doing it?

Re: Applying for chase cc to transfer CL

maiden_girl — Wed, 20 Aug 2014 02:01:01 GMT

That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

Re: Applying for chase cc to transfer CL

navigatethis12 — Wed, 20 Aug 2014 02:15:07 GMT

I don't really advise this either, unless you really wanted to get the sign up bonus anyway. I've not had much trouble getting increases from them if I asked for it. I don't think they would look down on someone doing it since they still felt you worthy to receive the new card anyway.

Re: Applying for chase cc to transfer CL

Anonymous — Wed, 20 Aug 2014 04:42:23 GMT

@maiden_girl wrote:
That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

It depends on your goals. If someone needed a big CL on card X, and did it by getting card Y and transferring the CL to X, that might be a perfectly sound strategy and probably more successful than other approaches.

Also, we don't know why Cap One and Citi do what they do, but I'm pretty sure it's not because people used to apply for cards with them just to transfer CL!

Re: Applying for chase cc to transfer CL

newhis — Wed, 20 Aug 2014 18:25:02 GMT

@maiden_girl wrote:
That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

My DW wanted a Freedom, she applied with a banker, got initialy denied (clean EX report, just found out that BoA and Discover didn't report to EX), but then the banker called and she got a 500 Freedom. The banker said don't worry in 6 months or so you can apply to other card and get a 5000 limit and transfer money to your Freedom.

From what I read in this forum, bringing up a 500 Freedom to 5000 will take a long time and several HP. Is easier to get another card with higher limit with Chase and then transfer what you want to your other card. Chase is weird.

Re: Applying for chase cc to transfer CL

Luscher — Wed, 20 Aug 2014 18:55:14 GMT

Ive done it. its easy and you get a higher limit then you would out of Chase's low CLI's

Re: Applying for chase cc to transfer CL

maiden_girl — Wed, 20 Aug 2014 20:14:41 GMT

@newhis wrote:
@maiden_girl wrote:
That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.
My DW wanted a Freedom, she applied with a banker, got initialy denied (clean EX report, just found out that BoA and Discover didn't report to EX), but then the banker called and she got a 500 Freedom. The banker said don't worry in 6 months or so you can apply to other card and get a 5000 limit and transfer money to your Freedom.

From what I read in this forum, bringing up a 500 Freedom to 5000 will take a long time and several HP. Is easier to get another card with higher limit with Chase and then transfer what you want to your other card. Chase is weird.

Chase bases their CLIs on other accounts in your profile and overall credit experience. Just because Chase "allows" it for now doesn't mean it should be done. I notice people doing it a lot. "I want a CLI on my Freedom so I'm gonna app for a Amazon Visa to get my Freedom to 5k then close Amazon after they finish...PRESTO A VISA Signature!" Lol. I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.

Re: Applying for chase cc to transfer CL

Anonymous — Wed, 20 Aug 2014 20:23:25 GMT

@maiden_girl wrote:

Just because Chase "allows" it for now doesn't mean it should be done.

I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.

OK. And others have different beliefs, and for them, Chase allowing it absolutely DOES mean it can/should be done.

Re: Applying for chase cc to transfer CL

maiden_girl — Wed, 20 Aug 2014 20:33:53 GMT

@Anonymous wrote:
@maiden_girl wrote:

Just because Chase "allows" it for now doesn't mean it should be done.

I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.
OK. And others have different beliefs, and for them, Chase allowing it absolutely DOES mean it can/should be done.

If Chase believed said applicant was worthy of that credit line, no one would have to go to such lengths to "beat the system" to achieve certain goals. I'm sorry but this is where you and I differ in beliefs.

Re: Applying for chase cc to transfer CL

Anonymous — Wed, 20 Aug 2014 20:45:02 GMT

@maiden_girl wrote:
@Anonymous wrote:
@maiden_girl wrote:

Just because Chase "allows" it for now doesn't mean it should be done.

I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.
OK. And others have different beliefs, and for them, Chase allowing it absolutely DOES mean it can/should be done.
If Chase believed said applicant was worthy of that credit line, no one would have to go to such lengths to "beat the system" to achieve certain goals. I'm sorry but this is where you and I differ in beliefs.

Mmm. From a risk to Chase viewpoint, what is the difference between two CLs of $X and $Y, and one of $(X+Y)? Clearly, Chase HAS decided that the applicant is worthy of $X + $Y in total credit. Their CLI mechanism may have other constraints for whatever reason, but I don't see that this is beating the system in any meaningful way. And if Chase had a problem, they could indeed stop it. And they don't. So maybe, they don't see a problem!

Re: Applying for chase cc to transfer CL

Michael982 — Wed, 20 Aug 2014 21:04:54 GMT

I dont see it as a negative either. But it is easier to get approved for a new card than a CLI. Now i also dont want chase to hold it against me later when i try to get a CLI or recon a CLI. I do feel like i would be beating the system in a way if i did so i would probably use the card for about 6 months before a CLI transfer, 3 months minimum.

I also put 7-8k through my card every month and pay it off every week. I have a 5k limit on it. Its a little of a hassle but worth the rewards points, every little counts.

Re: Applying for chase cc to transfer CL

MidnightJester — Wed, 20 Aug 2014 21:37:09 GMT

S#!T I am sooo looking forward to my next app spree and including CSP in it just to see what Chase does to add to my Freedom with 10K I already cary. 2nd Card is a def charm with Chase if you have a clean Credit report, better scores and used their prior card in a responsible way.

Re: Applying for chase cc to transfer CL

Luscher — Wed, 20 Aug 2014 21:45:29 GMT

The word unethical means something different to everybody. In conclusion this approach IS LEGAL and has proven time after time to be one of the best ways to increase your credit limit with chase. (The best way, imo)

Re: Applying for chase cc to transfer CL

newhis — Wed, 20 Aug 2014 22:00:54 GMT

@maiden_girl wrote:
@Anonymous wrote:
@maiden_girl wrote:

Just because Chase "allows" it for now doesn't mean it should be done.

I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.
OK. And others have different beliefs, and for them, Chase allowing it absolutely DOES mean it can/should be done.
If Chase believed said applicant was worthy of that credit line, no one would have to go to such lengths to "beat the system" to achieve certain goals. I'm sorry but this is where you and I differ in beliefs.

The banker from Chase said to my wife that in 6-9 months she can apply for other Chase card and she can get one with 5K limit. I don't think they will increase her limit at all (Freedom) in 6 months, even when she is using the card for around 1K a month. And with a HP the card will go only to 1.5-2.5K in 6 months.

I think Chase want people to get multiple cards with them.

Re: Applying for chase cc to transfer CL

N7 — Wed, 20 Aug 2014 23:34:46 GMT

when i got my Freedom Card from Chase i got approved for a 5k and i applied for the CSP and got 10k.

Re: Applying for chase cc to transfer CL

capitalkid — Fri, 22 Aug 2014 00:34:23 GMT

chase tallies the total credit line exposure. whether it is on 1 card or more does not seems to make much difference at all. the freedom they allow to change limits in between cards is a service to the cardholder, but exposes the lender no more than they were initially. Its just finance, or the shifting of finance exposure. In fact they lessen their exposure overall when they shift limits, because 500$ is a mandatory minimum closing limit. Card holder moves limit, chase brings down their exposure by 500$ and all is well for both sides.

DH has done this through message center, done in less than 24 hours. Moved freedom line to new AGR card. Freedom line had been open 6 mo. New app for AGR, all but 500$ got transferred over, no it did not make his card a world, that is something else entirely, but it brought his limit to usable limit for vacation opportunities.

I dont see the moral dilema here? Anyway, Cheers-

Re: Applying for chase cc to transfer CL

Networth — Fri, 22 Aug 2014 03:21:51 GMT

I have gotten auto CLI on both my Freedom and Sapphire 2x on the Freedom and 3X on the CSP, each increase was atleast a 5k jump. Unless you really need the extra credit why not just use the card (they like usage) and see if they give an auto CLI, thus avoiding a HP and/or new trade line.

2 cents