Chase PC and CLI

[ResQMoore]

I originally applied to Chase in 2012 for the Freedom Card and received the card with a $500 limit. Since then they have been giving me auto CLIs slowly, raising my limit to $3000 currently. This is my lowest limit as my other cards are: AMEX BCP is 8K, Chase Amazon Visa Signature is 6K, and my Citi Thank you Preferred is 7.3K. I am getting married this year and my Fiancee and I are going thorugh our finances and future plans. Luckily we are both debt free at the moment (just finished paying off student loans), and our credits scores are pretty good - so we would like to start putting them to good use. 

I wanted to upgrade my Chase Freedom to the CSP as I am traveling more and will get better use of the benefits (2x points on dining and being able to use my points with Southwest Rapid Rewards). I called  the Chase CSR and they said that they could PC my Freedom to the CSP; however, then they said that since I did not have a 5K CL that they would need to do a CLI and it would have to be a hard pull request. I requested a new CL of 10K and I was told that it was forwarded to a credit analyst for reivew, pulled from EX (769) so it sounds like I will probably be deined? I am kind of regreting not just outright applying for the CSP, but that would impact my average age of accounts and I now have 5 credit inquries (4 from 2014). Im thinking of the following ideas:

-If approved (or countered as long as its over 5K) continue with the PC

-If approved apply for the CSP seperately and transfer some of the credit limit from the Freedom

-If denied, recon or outright apply and see where that goes

-If denied, try my luck with another card from AMEX or Citi

Thoughts?

[Anonymous]

I wished you had just applied for the CSP outright.  I hope you are aware you don't get the bonus since you PC.  Since you travel alot, that would have been a nice perk to have.

Also, the request being with a credit analyst does not neccessary mean it is denied.  If denied, I'd reconned.

[Imperfectfuture]

If you want the bonus for traveling, don't PC. App for new card.

[ResQMoore]

My concern now if I were to just apply for the CSP how badly is that going to impact my score (additional inqury and changing my age of accounts) and how will it look if I go for a mortgage later this year? I used myFico's estimator and it said only a 5-10pt drop. My fiancee and I are both in the mid to high 700s (Im showing 768EQ/770TU/769EX), both have no late payments or other negative issues. Should we still be good or will it show red flags?

[Imperfectfuture]

Most folks applying for mortgage, wait for apping until mortgage done. Even if PC, Chase will consider new account, and may report as such.

[Anonymous]

Would Chase let you PC a Freedom to the original Sapphire? If so, would you still be able to apply for a CSP if you already had the Sapphire?

[Anonymous]

Ask them if they can use the pull for a CLI on the freedom and do a new app for the CSP . Inquiries don't hurt your score much . The new account would take a few points but you'll gain all that back in a couple months .

[ResQMoore]

After talking to several Chase CSRs I was not able to use the pull to apply for a CSP so I decided to continue with the upgrade.  I actually received a call from Chase's Credit Department as they wanted to talk to me about the CLI Request. They asked the standard questions and asked why I wanted the CLI (said I needed minimum CL for upgrading my card - they seemed pretty happy with this answer and said i have excellent credit) after reviewing my credit the only "concern" they found was that my reported balances on my cards were low compared to what I was asking for credit. I explained that I pay my credit cards so that I don't have high utilitization ratios. She was able to raise my credit limit and transfer me to get the card upgraded. I spoke to the CSR next and they completed the upgrade and told me that my account numbers, reports, APR, and everything else would remain the same and the card should be to me in 3-5 days. 

[Anonymous]

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@ResQMoore wrote:

After talking to several Chase CSRs I was not able to use the pull to apply for a CSP so I decided to continue with the upgrade.  I actually received a call from Chase's Credit Department as they wanted to talk to me about the CLI Request. They asked the standard questions and asked why I wanted the CLI (said I needed minimum CL for upgrading my card - they seemed pretty happy with this answer and said i have excellent credit) after reviewing my credit the only "concern" they found was that my reported balances on my cards were low compared to what I was asking for credit. I explained that I pay my credit cards so that I don't have high utilitization ratios. She was able to raise my credit limit and transfer me to get the card upgraded. I spoke to the CSR next and they completed the upgrade and told me that my account numbers, reports, APR, and everything else would remain the same and the card should be to me in 3-5 days. 

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What APR did you have?  I have never heard of anyone having a CSP without the standard 15.9%

[ResQMoore]

12.99%