Applying for chase cc to transfer CL

[Michael982]

I noticed people mentioning applying for a chase card for the CL transfer but no threads for it. Is this commonly done? Also how long would you wait before transferring the CL? Is this something that's frowned down upon by chase lending services?

[maiden_girl]

Are you suggesting applying for a Chase card just to transfer the credit limit to an existing card? Why not just take the HP and get a CLI instead of ruining your AAoA?

[jamesdwi]

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@maiden_girl wrote:

Are you suggesting applying for a Chase card just to transfer the credit limit to an existing card? Why not just take the HP and get a CLI instead of ruining your AAoA?

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because you are far more likely to get a new card with a great limit than to get a CLI via chase, they like expanding your relationship with them even if it costs them a joining bonus.

[Michael982]

Agreed its way easier to get approved for a card. Also I'm just trying to get advise on this subject and come out more knowledgable. Has anyone done this before and how long did you keep the card before doing it?

[maiden_girl]

That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

[navigatethis12]

I don't really advise this either, unless you really wanted to get the sign up bonus anyway. I've not had much trouble getting increases from them if I asked for it. I don't think they would look down on someone doing it since they still felt you worthy to receive the new card anyway.

[Anonymous]

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@maiden_girl wrote:

That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

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It depends on your goals.   If someone needed a big CL on card X, and did it by getting card Y and transferring the CL to X, that might be a perfectly sound strategy and probably more successful than other approaches.  

Also, we don't know why Cap One and Citi do what they do, but I'm pretty sure it's not because people used to apply for cards with them just to transfer CL!

[newhis]

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@maiden_girl wrote:

That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

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My DW wanted a Freedom, she applied with a banker, got initialy denied (clean EX report, just found out that BoA and Discover didn't report to EX), but then the banker called and she got a 500 Freedom. The banker said don't worry in 6 months or so you can apply to other card and get a 5000 limit and transfer money to your Freedom.

From what I read in this forum, bringing up a 500 Freedom to 5000 will take a long time and several HP. Is easier to get another card with higher limit with Chase and then transfer what you want to your other card. Chase is weird.

[Luscher]

Ive done it. its easy and you get a higher limit then you would out of Chase's low CLI's

[maiden_girl]

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@newhis wrote:

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@maiden_girl wrote:

That's ill-advised to suggest doing that unless the card will serve a purpose for you spending/point wise. Applying for a card just to move the CL around to get a bigger limit is just asking for trouble. And if people apply for cards just to do that, Chase will become one of those banks like Capital One and Citi where they just tell you to request a CLI rather than allocating your limits just because you have mulitple cards with them.

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My DW wanted a Freedom, she applied with a banker, got initialy denied (clean EX report, just found out that BoA and Discover didn't report to EX), but then the banker called and she got a 500 Freedom. The banker said don't worry in 6 months or so you can apply to other card and get a 5000 limit and transfer money to your Freedom.

From what I read in this forum, bringing up a 500 Freedom to 5000 will take a long time and several HP. Is easier to get another card with higher limit with Chase and then transfer what you want to your other card. Chase is weird.

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Chase bases their CLIs on other accounts in your profile and overall credit experience. Just because Chase "allows" it for now doesn't mean it should be done. I notice people doing it a lot. "I want a CLI on my Freedom so I'm gonna app for a Amazon Visa to get my Freedom to 5k then close Amazon after they finish...PRESTO A VISA Signature!" Lol. I just believe this kind of practice is unethical and not the right way to go about increasing your limit to achieve your goals.