Chase gave me two options

[NRB525]

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@Anonymous wrote:
+1 👆 and don't HPs with no new accounts look bad as opposed to an HP with corresponding new account. HP's are like gold, however if it takes an HP to CLI with Chase which you'd have to do on that $2k then the difference is the same. $2k now, HP now, HP later = ~$10k. or HP now. no acc. HP later = ~ $10k. You'll take two HPs either way to get to that 10 k range, however you'll lose $2k on one card with option 1.

Choose wisely: the blue pill ✋🏾 or the red pill ✋🏿?

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Well, except they are not. In 6 months, 12 months, then two years, aaallll gone... no gold

[Anonymous]

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@bonehead88 wrote:

If it were me I'd swallow the HP and wait. Other lenders like Amex I'd say $2000 is not an issue but Chase isn't the bank to have a toy limit with unless you want to go through opening other accounts to move that credit line up and never having an APR reduction. Worth the 4 months IMO and inquiries all fall off eventually.

Source - still trying to get my Freedom into a Visa Sig after 3 years or lowering the APR from 22.99.

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You snooze, you lose. I'd make use of the HP and reallocate. The bonus is worth it.

[takeshi74]

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@newUser0 wrote:

1) Approve for IHG by moving $2K from my other cards.

2) Wait for some months (3-4) and apply again, and get a higher credit limits? (like additional $10K CL)

I am confused which one to select. What do you all suggest?

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You can't just poll.  You need to decide based on your priorities.  Which is more important to you?  I don't recommend assuming that you'll automatically get such limits 3-4 months down the road.  There are credit factors that take time and responsible usage but CL's aren't just increased in exchange for time.  Are you really expecting signficant improvements to your credit that would alleviate Chase's concern(s) with extending more credit to you?

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@Anonymous wrote:
HP's are like gold

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HP's are a relatively small factor.  They get blown out of proportion here because they tend to have a bigger impact and are more likely to be cited for builders/rebuilders with issues in their credit profile.  A thick profile in good standing can handle many more HP's than thinner profiles in poor standing.

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@Anonymous wrote:

my only issue with this is option 1 puts OP at 5 cards with Chase. Max exposure, no?

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It's more a matter of amount that number of cards which is why the OP can reallocate.  That said, some have had Chase cite concerns with a given number of cards.  That number seems to be closer to about 7 from what I've seen but it's proabably YMMV given that everyone's credit isn't identical.

[Anonymous]

I would take the card now...there's no promise that you next time you apply you'll get approved anyways. I would cool it with chase cards in the meantime.

[B335is]

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@takeshi74 wrote:

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@newUser0 wrote:

1) Approve for IHG by moving $2K from my other cards.

2) Wait for some months (3-4) and apply again, and get a higher credit limits? (like additional $10K CL)

I am confused which one to select. What do you all suggest?

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You can't just poll.  You need to decide based on your priorities.  Which is more important to you?  I don't recommend assuming that you'll automatically get such limits 3-4 months down the road.  There are credit factors that take time and responsible usage but CL's aren't just increased in exchange for time.  Are you really expecting signficant improvements to your credit that would alleviate Chase's concern(s) with extending more credit to you?

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@Anonymous wrote:
HP's are like gold

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HP's are a relatively small factor.  They get blown out of proportion here because they tend to have a bigger impact and are more likely to be cited for builders/rebuilders with issues in their credit profile.  A thick profile in good standing can handle many more HP's than thinner profiles in poor standing.

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@Anonymous wrote:

my only issue with this is option 1 puts OP at 5 cards with Chase. Max exposure, no?

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It's more a matter of amount that number of cards which is why the OP can reallocate.  That said, some have had Chase cite concerns with a given number of cards.  That number seems to be closer to about 7 from what I've seen but it's proabably YMMV given that everyone's credit isn't identical.

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All excellent points. I completely agree. Everybody has different credit goals and needs and only you can determine what works best for you. 

[newUser0]

Thank you everyone for your suggestions. 

I finally decided not to get a card now and will apply in future for higher limits.  I have got like 7 cards in the last 6 months. This will help me to keep my new accounts count low.

[newUser0]

HOLY CRAP!!!

Just checked my report and they did 1 HP on EX and 1 on TU.

2 HP wasted.

[Anonymous]

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@newUser0 wrote:

Thank you everyone for your suggestions. 

I finally decided not to get a card now and will apply in future for higher limits.  I have got like 7 cards in the last 6 months. This will help me to keep my new accounts count low.

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No guarantee of approval down the line. Shame you had to take two HP now and not get the bonus. Real shame.

[Anonymous]

I agree with Nix.

[FinStar]

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@newUser0 wrote:

HOLY CRAP!!!

Just checked my report and they did 1 HP on EX and 1 on TU.

2 HP wasted.

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Sorry to hear about the 2 HPs.  Sometimes with Chase that sometimes happens.  I'm thinking as others like takeshi, Yes-Its-Me, etc., it is ultimately up to you to decide what works best.  I would have heeded the same advice on waiting for a better opportunity rather than hurting your AAoA with another card for growing the IHG should you have decided to carve out from another one to get this approval.  I'd rather have a straight approval (with minimum $5K for this card, than carve out from others).

Here's a newsflash with the sign-up bonus... IT COMES BACK!  It is featured periodically and Chase is really good about honoring/adjusting any points from a previously advertised/expired promotion. 

And, I'll add the following, I will be getting the IHG card sometime early in 2016 and I can almost guarantee that the similar sign-up bonus will be available.  You don't see me sad or "ashamed" for not getting it this time around   No need to feel "shame" or feel bad about it OP.  Inquires are really not that "golden" IMO.