App for CFF: What To Do with CF CL?

TSlop · ‎07-18-2021

Hello, all. I'm probably going to app for the CFF to replace my CF soon, since I don't have a MasterCard and I would like the SUB. I anticipate closing the CF ahead of time, and I am wondering what to do with the CL. Below are my current Chase cards and limits.

CF: $10k

CSP: $16.7k

CFU: $17.3k

Amazon: $22.1k

I have $66.1k exposure across Chase, so I am wondering if it is best to either split the CF CL across the other cards before closing, or just close it and let the CFF generate a new CL (I definitely don't need any more credit since I use <1% across all my cards). I could leave it open, but I don't know if I am getting close to their exposure ceiling, and it might risk them shifting credit around if I open a 5th card. I'm not worried about the affect on my credit by closing it.

simplynoir · ‎07-18-2021

I would actually keep the account and see what happens when you apply for the card. If you were to apply for the CFF and part of the denial reasons was there was enough credit extended to you, you can call the recon line and have them move the limit from the CF -> CFF. That is assuming they don't shift limits around to accommodate your approval. This happened to my friend when she got a new card. Chase didn't want to extend any more credit so she just shifted the lines from an unused card to push it through. That way it leave you the option to move the CL from the CF to where you want it

Then again the easier option would probably be to close the card and give Chase one less reason to deny the app in the first place. This is especially true if that will be the only reason they'd do that

TSlop · ‎07-18-2021

@simplynoir wrote:
I would actually keep the account and see what happens when you apply for the card. If you were to apply for the CFF and part of the denial reasons was there was enough credit extended to you, you can call the recon line and have them move the limit from the CF -> CFF. That is assuming they don't shift limits around to accommodate your approval. This happened to my friend when she got a new card. Chase didn't want to extend any more credit so she just shifted the lines from an unused card to push it through. That way it leave you the option to move the CL from the CF to where you want it

Then again the easier option would probably be to close the card and give Chase one less reason to deny the app in the first place. This is especially true if that will be the only reason they'd do that

I guess that brings up a follow-up question: does a recon come with an additional pull? If I was hypothetically denied, I'd have to take a second hit to get a (hopefully) successful recon?

Also, if I am at the exposure limit, and they decide to shift some credit around instead of a denial, do they let you know during the app process, or is it more of a "check your CLs after the app" kind of deal?

Thanks for your input!

simplynoir · ‎07-18-2021

@TSlop wrote:
@simplynoir wrote:
I would actually keep the account and see what happens when you apply for the card. If you were to apply for the CFF and part of the denial reasons was there was enough credit extended to you, you can call the recon line and have them move the limit from the CF -> CFF. That is assuming they don't shift limits around to accommodate your approval. This happened to my friend when she got a new card. Chase didn't want to extend any more credit so she just shifted the lines from an unused card to push it through. That way it leave you the option to move the CL from the CF to where you want it

Then again the easier option would probably be to close the card and give Chase one less reason to deny the app in the first place. This is especially true if that will be the only reason they'd do that
I guess that brings up a follow-up question: does a recon come with an additional pull? If I was hypothetically denied, I'd have to take a second hit to get a (hopefully) successful recon?

Also, if I am at the exposure limit, and they decide to shift some credit around instead of a denial, do they let you know during the app process, or is it more of a "check your CLs after the app" kind of deal?

Thanks for your input!

In my experience it does not. They will simply review the information from the application and your current accounts with them at present. Following that they will ask follow-up questions such as why you are applying for the card, your usage with current Chase cards themselves, and so on. It's actually quite painless and as long as you're honest and your credit profile is solid you stand a good chance reversing their original decision

Re: limit question it depends honestly. If you apply and the computer does it for you have no control on which card they pull the limit from to get an approval. From there you would have to evaluate where your limits are at post-approval and shift lines accordingly to fit your needs. If it is during the recon process you have control and tell them which credit card they take the limit from. At least from my friend's experience that is what she was able to do