CSP application - moving credit lines?

[Anonymous]

Hi all,

Relatively new to the credit world, but I'm really hoping to get CSP soon as I have a huge amount of international travel lined up in the next half a year (and am generally a semi-frequent traveller). Since I just got my Chase FU start of last month, I'm planning to apply next month when that card hits the 2 month age. I'm under 5/24 but not expecting instant approval on the CSP becuase of my thin credit file. My question is, since I have a 7.2k limit on FU (0 balance), how likely is it that they will give me the CSP during recon if I offer to move 5k of that to CSP? I don't actually need that much credit on FU. I've seen a couple of success data points, have there been failures if I just ask to move the credit line?

Thanks!

[simplynoir]

Unless your income is relatively low credit reallocation shouldn't be an issue with regards to a possible approval with a CSP application. I would wait at least one more month (six months if you can wait that long) before applying if you have a thin credit file

[Remedios]

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@Anonymous wrote:

Hi all,

Relatively new to the credit world, but I'm really hoping to get CSP soon as I have a huge amount of international travel lined up in the next half a year (and am generally a semi-frequent traveller). Since I just got my Chase FU start of last month, I'm planning to apply next month when that card hits the 2 month age. I'm under 5/24 but not expecting instant approval on the CSP becuase of my thin credit file. My question is, since I have a 7.2k limit on FU (0 balance), how likely is it that they will give me the CSP during recon if I offer to move 5k of that to CSP? I don't actually need that much credit on FU. I've seen a couple of success data points, have there been failures if I just ask to move the credit line?

Thanks!

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You can move credit lines, but you cannot bargain with "let me open CSP and just use existing line" 

You cannot recon unless you're denied. If you're planning on getting denied, you should wait longer 

Another thing, with younger files, two months between Chase cards may or may not cut it. You're about to poke the bear in the one spot bear no likey. 

I'd think about it some more 

[coldfusion]

Chase is known to sometimes double back and shut down a newly acquired new card if they decide after the fact is was acquired too soon after a previously acquired Chase card.  The normally recommended interval is at least 4-6 months after ones' last Chase card.

Given that you have a thin profile 6 months is probably a wiser choice.  Give them some time to get a feel for your spending and payment habits.

[SoCalifornia]

[Aim_High]

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@SoCalifornia wrote:

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Lol ... too funny!  

[Anonymous]

While it's probably not what you're wanting to hear, I agree with waiting 6 months. Or longer if this is your only account.

In that time use the FU for everything and PIF, showing them that you can handle such a CL responsibly. And a future CSP app may be smoother than you anticipate. 

Edit: I also forgot to mention that sometimes people will see "special offers for you" in their account, which can be better than cold apping.

No guarantee it will be the CSP, but it's something to keep an eye out for.

[Aim_High]

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@coldfusion wrote:

The normally recommended interval is at least 4-6 months after ones' last Chase card. 

Given that you have a thin profile 6 months is probably a wiser choice. 

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Concur.  Better to be a little conservative with Chase.

I have a thick file (30+ years) with high scores and extensive lines of mixed credit in cards, auto loans, mortgages, student loans; high income; very low DTI; and a 19+ year customer history with Chase. 

I just had a run of new cards with them over a 16-month span.

Even in my case, the closest I pushed my apps were 3 months apart but I usually allowed longer.

For a thin file, six months is probably a good guideline for minimum interval between apps.

If you really want to be safe, one year history with them might be a better goal but I wouldn't push it closer than six months.

Keep in mind that you may be approved for a card sometimes but get a lower starting credit limit or higher APR than you would if you had waited a little longer to have less inquiries, less new cards, and more history on your current cards.  Sometimes, its not about just getting the approval but also trying to get the best terms that you can for a card.

[CaptJOB]

If that Freedom Unlimited says Visa Signature on it I'm pretty sure you can only move $2,200 of that CL anyhow(not sure if that's the case).

[Anonymous]

Thanks all for the reply!

Yes, I'm aware of Chase AA and honestly still debating whether I should pull the trigger. Chase FU is not my first CC, but definitely my first CC over 5k. I know 2 months is stretching it... it's just that I have a lot of travel stacked up in Jan-March and would love to have CSP to do it... 

Sigh. I'll give it a good thought. Thank you all for the kind warnings.