I am going to app for the CFF in a couple weeks. I already have the CF, but I want a MC in my lineup. I'm not looking to PC, since I want another 20k SUB.
If I am denied due to too much exposure, is it possible to recon and have them close my CF in order to get the CFF open? I've been debating in the past whether to close the CF first before opening the CFF, but I'm thinking I'll leave it open and see what happens. I suppose Chase could also steal some CLs from my other cards, but I was curious if offering to close my CF was a valid enough recon if I was denied.
@coldfusion wrote:Don't offer to close an existing card and don't do anything like reduce credit limits or close a card before you apply.
If they're lining up to deny you on recon tell them that you're willing to have some credit limit from one of your existing Chase cards transferred over to the CFF. Sometimes an analyst will suggest on their own that they are willing to do that.
If successful, after the fact you can go and reallocate limits yourself across all of your Chase cards to your liking.
Sounds like a plan. I wasn't going to do anything beforehand, but was just preparing in case I do get denied. I don't think I will, but I already have 4 Chase cards, so the thought has crossed my mind that I'm getting close to their internal CL.
Do you have a reason to think you would be denied due to exposure? Chase does not have a preset limit on the number of cards they allow someone to have at a given time (at least to my knowlege). And I have seen some people with quite large combined limits over their chase cards. What is your current CL with chase and what are you looking for on the CFF?
Definately don't close anything beforehand, see what they say first. As others have mentioned, if you are able to get the card open it's pretty simple to transfer around CL amongst cards.
@SDMarik wrote:Do you have a reason to think you would be denied due to exposure? Chase does not have a preset limit on the number of cards they allow someone to have at a given time (at least to my knowlege). And I have seen some people with quite large combined limits over their chase cards. What is your current CL with chase and what are you looking for on the CFF?
Definately don't close anything beforehand, see what they say first. As others have mentioned, if you are able to get the card open it's pretty simple to transfer around CL amongst cards.
Nothing to point to specifically, but my memory of surfing the forums had me remembering that I have read at some point about them not wanting to extend too much credit. Plus, when I asked for $50k on my BoA PR, I was countered with $37.5k, saying something like I reached my CL maximum with that bank.
I currently have $66.1k across my 4 Chase credit cards. I've never asked for a CLI, but I have been receiving higher CLs with each new card opened with them, and I have shuffled the CLs around a couple of times. The Amazon is probably a fluke at $22.1k, which I opened last year around the time everyone was getting massive limits.
To answer your last question, I'm not looking for anything specific on the CFF for a CL. I have more than enough CL across my cards. I wouldn't care if it opened with $500 (though I'd transfer some CL to it so that I don't have high utilization on it).
@TSlop wrote:
@SDMarik wrote:Do you have a reason to think you would be denied due to exposure? Chase does not have a preset limit on the number of cards they allow someone to have at a given time (at least to my knowlege). And I have seen some people with quite large combined limits over their chase cards. What is your current CL with chase and what are you looking for on the CFF?
Definately don't close anything beforehand, see what they say first. As others have mentioned, if you are able to get the card open it's pretty simple to transfer around CL amongst cards.
Nothing to point to specifically, but my memory of surfing the forums had me remembering that I have read at some point about them not wanting to extend too much credit. Plus, when I asked for $50k on my BoA PR, I was countered with $37.5k, saying something like I reached my CL maximum with that bank.
I currently have $66.1k across my 4 Chase credit cards. I've never asked for a CLI, but I have been receiving higher CLs with each new card opened with them, and I have shuffled the CLs around a couple of times. The Amazon is probably a fluke at $22.1k, which I opened last year around the time everyone was getting massive limits.
To answer your last question, I'm not looking for anything specific on the CFF for a CL. I have more than enough CL across my cards. I wouldn't care if it opened with $500 (though I'd transfer some CL to it so that I don't have high utilization on it).
If that's the case, then I think just ripping the submit button on the app is the move. It sounds like you have a very well established relationship with Chase, and since you would not be violating any of their current rules for new/total cards (assuming this one doesn't tigger their 5/24), I don't see why you wouln't be approved (at the very lease for a small limit, which you can shuffle some CL around for).
If it gets denied/goes for review, it seems like you have a few options here to work something out. IMO if it helps you accomplish something you are trying to, the risk/reward is totally worth the HP (assuming you care about that).
I would love to expand my relationship with Chase, but I'm into 5/24 territory and I'm too weak willed to wait 2 years without opening at least a couple of accounts.
I'd be curious to know the outcome on this one for a DP!