Applying for Chase Ritz Carton Question

[ficomember]

Hi, I am looking to apply for Chase Ritz credit card. It's my understanding this is a Visa infinite card so one has to be approved for high line of credit, say $10,000 at least, correct? I am under 5/24 rule but the thing is I have had many chase cards and I just got approved for Chase united card and had to call in to inquire about the application status. The rep grilled me by saying that they have approved me a few cards already and that in order for me to get that United card, they have to move my credit from another card. I had no issue there.

So if I were to apply for the Ritz card, I wonder if they are willing to give me the $10k credit or not because I don't have any other cards that I can move credit like that. The only Infinite visa card I have is the CSR but it only has $10k credit line on it. Any thoughts? 

Should I cancel Marriott card as I plan on canceling that card anyway this month, would that help right away to release the credit line?

[Schwartzinator]

What’s the rush for the Ritz? You said it yourself, you just got the United card and Chase implied you may be at or near your maximum exposure. While the Ritz *may* have a more lenient underwriting policy, you may want to cool it and demonstrate you can handle what you already have. Don’t poke the bear.

[ficomember]

I  have a plan to use it for the Ritz property in Hawaii :-) So it's not a good idea then? My United was applied for in October 2017.

[Anonymous]

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@ficomember wrote:

Hi, I am looking to apply for Chase Ritz credit card. It's my understanding this is a Visa infinite card so one has to be approved for high line of credit, say $10,000 at least, correct? I am under 5/24 rule but the thing is I have had many chase cards and I just got approved for Chase united card and had to call in to inquire about the application status. The rep grilled me by saying that they have approved me a few cards already and that in order for me to get that United card, they have to move my credit from another card. I had no issue there.

So if I were to apply for the Ritz card, I wonder if they are willing to give me the $10k credit or not because I don't have any other cards that I can move credit like that. The only Infinite visa card I have is the CSR but it only has $10k credit line on it. Any thoughts? 

Should I cancel Marriott card as I plan on canceling that card anyway this month, would that help right away to release the credit line?

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Very unlikely that you will be approved for the Ritz card at this point given what occurred with the United card.  If maximum credit exposure was the issue then closing the Marriott card would help (not right away though)  but from what you are saying that the CSR gave as reasons that doesn’t appear to be their concern. They want you to establish an adequate record with them before getting additional lines.  I would wait at least 6 months before applying for the card.

Also, how long have you had the Marriott card?  One thing that will put on their radar in a negative way is opening a card, getting the bonus and then closing it out.  Keep it for a minimum of a year before closing it.

[AverageJoesCredit]

Good advice given OP. Plus , for some odd reason or the other we have seen a Ritz app some sort of catalyst for AR and in some cases, cards closed. Chase doesnt seem the kind of bear id tussle with, just ask DiCaprio

[Anonymous]

The Ritz isn't subject to 5/24. 

You're at max exposure with Chase. Wait about a year, call back, and tell them you'll move a credit line over from another card to open the Ritz. 

[ficomember]

My Marriott card is due the end of this month as one year. I want to cancel it because it overlaps with my Marriott business card. My Marriott has $5k line now so i still need another $5 if I close Marriott. I have been very good with taking care of my cards and record with chase as far as history goes. I just don’t know if they’d approve the Ritz for me at this time based on your all analysis.

[Schwartzinator]

If you’re concerned about losing the limit, move it to your CSR or United card for use as leverage later on.

[ficomember]

Oh so I can request my Marriott card line to move to CSR then close it? Can I do this then,

Move $5k from Marriott to CSR
Move another $5k from another card to CSR.

So when I call in for my Ritz they can move $10k from CSR to Ritz?

[Schwartzinator]

You should be able to so long as they’re all Chase cards and you’re leaving atleast $500 on a card if you want to keep it open—though that number may be higher for co-branded card.