@ThriftySaver wrote:I have two Chase personal credit card and I would like to apply for a third one, however, the credit line on both of these cards are over $20k, Would it be wise if I request Chase to decrease the credit line to less than $5k then wait a few days and apply for a Chase credit card to avoid getting denied for having too much credit? Thanks
No, don't do that. You should let your limits grow. The higher the limit, the lower your utilization percentage.
If you don't like one of the cards, call and try to change it to another Chase product.
BTW, are you sure you want to have all your cards with one bank? Wouldn't you feel better diversifying a little?
@ThriftySaver wrote:I have two Chase personal credit card and I would like to apply for a third one, however, the credit line on both of these cards are over $20k, Would it be wise if I request Chase to decrease the credit line to less than $5k then wait a few days and apply for a Chase credit card to avoid getting denied for having too much credit? Thanks
Which cards do you have, how long have you had them, what are your FICO 8 scores, what is your annual income, and which card are you thinking of applying for.
If you have had the cards a year or more, your FICO score has no issues, and your annual income supports it, it is quite likely you will just be approved for the new card.
Chase can combine limits if you want to, so you do want to hang on to the existing credit limits for potential reallocation.
On the flip side, it is brutally difficult to get ANY CLI from Chase, so it is not good practice to reduce CL with Chase.
