Advice: CLI on CSP or CSR?

[Credit_hawk]

Hey guys, I’ve not been following the card game as close as I used to and seek your up-to-date wisdom. I have a Chase Sapphire Preferred which I’ve had since December 2015. I just paid my $95 AF. I use it every year for travels. I would say I travel at least 4 times a year at a total of $7,000 a year generally. I have always felt the CSP has been good enough for my uses. I’ve been open to possibly upgrading to the CSR but with the new $100 AF increase and not understanding the exact rules on how to switch from CSP to CSR; if I’m even eligible for the signup points and how I can make the switch if they don’t allow you to have two Sapphire cards open at the same time. Also the problem that my CSP isn’t the mandatory $10k to just do a PC or a CSR. Because of this & my general spend, I’ve felt like sticking with CSP made sense.

My main issue is I need to at least get a credit limit increase on my CSP. I’m stuck at the original $9k limit and while I never maxed it out I’ve often used up to 50% of my limit traveling routinely. Almost all my other card limits dwarf the $9k CSP by tens of thousands at this point but I’ve never gotten an auto CLI. Worse, I tried to get a CLI in Jan. 2017 and it ended up in 3 hard pulls and no increase. Since then, I’ve not applied for anything, my scores are all in the high 700s as you see in my signature and I have no inquiries at all. Also, Chase has been offering me a pre-approved $20,000 CFU in my portal, preapproved $40,000 car loans—all at fixed APRs. Point being, it seems Chase would approve a CLI but I’m still leery given my history with a CLI in the past and the general behavior of their stinginess. Ideally, I’d like to have a CSP or CSR at $20,000 or more.

What should I do here? What makes sense for me? Stay with CSP? CLI? CSR? Nothing? I think I’ve included all my data points for advice. Ask me if you need more. I won’t make much use of Lyft or door dash but would use the $300 travel credit obviously. I love the first party rental car coverage and for that alone I’d never get rid of my Sapphire. Has anyone had luck with good CLI with Chase lately?

Summary: Have CSP with insufficient limit. Don’t know if my travel necessitates CSR. Advice & data points on both CLI for CSP & CSR options. Thanks for the help.

[SoCalifornia]

If the CFU is a pre-approval and for 20k, why not pick up the CFU, get the SUB, a new wonderful card that works great in tandem with a Sapphire product for UR's and transfer some of the limit over to the CSP and if at that point you'd like to PC to the CSR, it should be no problem?

You're not going to get a 20K CLI from Chase, l so why not make the HP's pay off? If you later decide you simply don't want the CFU, just transfer the limit to your Sapphire and close the CFU- HP's all the same.

[wasCB14]

(Same thoughts as Socal who posted first.)

Last I checked, Chase was very flexible about CL reallocations between personal cards (business cards, not as simple).

You might apply for Freedom or CFU, then reallocate some of the limit on the new card to CSP. Then you'd presumably have an improved UR earn rate and the flexibility to PC if you wish.

[M_Smart007]

The highest CLI that I have received from Chase was $9000.00

https://ficoforums.myfico.com/t5/Credit-Card-Approvals/Chase-Amazon-9000-00-CLI/m-p/5738392#M624911

If you are not worried about AoYA or AAoA, I'd go with a New card as suggested up thread,

and re-allocate limits as needed.

In the end, I went for both a CLI and A Chase Marriott. both @ LOL/24

[Citylights18]

You could also put enough spend on a CFU to reduce monthly dependency on the CSP.

[Anonymous]

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@Citylights18 wrote:

You could also put enough spend on a CFU to reduce monthly dependency on the CSP.

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This.  You get 1.5 UR points per dollar on CFU.  Only dining and travel earn more on CSP/CSR, so get CFU, use it for your everyday purchases, and use CSP for dining and travel to maximize UR point earnings.  Alternatively, if the 5% categories line up with your spend and you would earn more points this way, get the regular Freedom instead.

You can also move a part of your CFU's limit to the CSP to get it over 10k and then PC it to a CSR if you want.

Asking for a CLI will incur hard pull(s) and you likely won't get 20K, but grabbing one of your preapproved offers will.

[FinStar]

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@wasCB14 wrote:

(Same thoughts as Socal who posted first.)

Last I checked, Chase was very flexible about CL reallocations between personal cards (business cards, not as simple).

You might apply for Freedom or CFU, then reallocate some of the limit on the new card to CSP. Then you'd presumably have an improved UR earn rate and the flexibility to PC if you wish.

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+1

Definitely a viable option if AAoA isn't a primary issue, OP.  Personally, I'd take it for the better UR earning rate and the reallocation flexibility. 

[Meanmchine]

Good luck on whatever you decide

[Credit_hawk]

Thanks for the advice guys! I appreciate the time you guys put in reading my long post and offering your advice 🙂. The only reason I hadn’t thought of getting the CFU card was because even though the initial sign-up bonus would be nice, I thought I had no use for another 1.5 or 2% card as I have both the Quicksilver and DC.

Secondly, but more importantly, I always was under the impression Chase was very HP intensive. Meaning, they would hit me with a HP or two for a new card and then hit me with more HP’s to reallocate credit limits. Is this true? Also, I should have said earlier, I have had a Chase Freedom for years. I’ve thought about moving some of the Freedom’s CL to the CSP but was under the impression that would be a HP. And if that is the case then I may as well just ask for a CLI on the CSP.

Lastly, I use the CSP strictly for travel because of the good benefits it offers like trip, baggage and car insurance amongst other travel related benefits. I have other cards for daily spend. Although, it might not be a bad idea to focus more on my Chase cards for optimum returns on daily spending.

So, does Chase HP to reallocate/move around credit limits? Is the CFU worthwhile in light of me having the Freedom, DC and Quicksilver already? Lastly, for my travels which travel card do you think is best: CSP or CSR?

[addicted_to_credit]

I’ll echo what everyone else has said, get the CFU and reallocate some of the limit then if the CSR makes sense to you, while you’re on the phone moving your limits around inquire about upgrading the CSP to the CSR. You will take a HP or 2 for the CFU but that should be it.

I think you mentioned that you only travel about 4 times a year and if that’s the case I’d probably stick with the CSP. I’m home around 3 days a month and I’m not big on the idea of a 450 a year af or a 550 a year af. I’d like the extras the CSR gives but I’m not sure if it makes sense especially with the soon to be af.