I want to get clarification on how the Chase profile bucket works and is it better to apply for a new card after a rebuild or to attempt to CLI on cards opened prior to a score collapse?
I have Chase FU and Slate -- both CLs of $500 -- I've had them for 3 years and 3.3 years, respectively. I haven't requested a CLI since I opened the accounts as I went through a tough spell where my score tanked. I anticipate my scores going above 680 after December's reporting.
The Slate card offers nothing, so I want to combine the CL with the FU or PC to something else (once I have scores over 700). However, once I'm over 700 I'll have a high score than I had when I originally was approved, so is it going to be tricky to a PC or do I apply for a new card and cancel the Slate?
Chase has nice subs and your cl is only $500. Based on that, I would apply for a new card. I'm not so certain I would close your Slate however. If you read the forum regarding closing cards, the subject has been discussed quite a bit.
CSP and CSR have nice bonuses, but I'd keep the Slate in case you end up being able to convert it to a 5x Freedom.
Chase is (for the time being, at least) pretty flexible about CL reallocations, so if you get some giant SL in the future on a new account you can always move some over.
And (if your signature is up-to-date) with a 621 EX you'll want all the good history (with Chase, and in general) you can get.
I have seen more DPs of high credit lines with new accounts than CLI for Chase. I have seen $500-$1000 approvals for new cards as well however.
Perhaps because it's a hard pull, people rather apply for a card. That and they have a good amount of good cards.
Are you familiar with which report Chase pulls from? Also I’d be interested in what you decided to do and how it turned out because we are at similar decisions right now.
Experian seems the most common. Sometimes a second report is pulled. Practices may potentially vary by state, credit risk, Chase's familiarity with the customer, etc.