Combining Chase cards into 1 super limit card?!

[DU556]

Do you really need that much limit on one card or are you wanting to show off?? Sorry to say it that way but other people are making really good points. I had the Marriott credit card with $16k limit and i just transferred that limit to my Amazon chase card since i couldn't justify that annual fee for this year.

[redpat]

OP, it will be a HP and chances are you will get grilled on why you need such a high CL.  Better not say to get higher limits from others, lol.

[Anonymous]

Thanks for the the input, I definitely want to hear valid reasons and get perspective before I do anything (been in the garden the past 9 months).

Ultimately my goal is to get multiple lines over $50k (would rather have 6-7 high quality cards vs 15-20 cracker jack cards). Why, not just because I can, or to brag. I want to keep utilization under 50% on any one card at any time( ie, borrow $40k @ 0% on one $80k line rather than two $40k lines).

I periodically take advantage of the 0% offers but use the funds to do a home improvement, buy a stock that I really like etc. My work income is lumpy in that 50-60% of my annual income comes in the months of March and April due to my employers annual bonus and exec comp plan structure. I then payoff any BT cards with expiring 0% rates. I am going to payoff all my cards next month and was thinking it would be a good time to do some pruning and SP CLI requests.

Unfortunately chase will want HP, and rather than get a HP per card, my thought was take 1 HP w/chase to get a new product with UR (with better benefit then having the United/SW card combos), and collapse the existing cards into the new one. Result. Only 1 HP, and automatically get a super limit card. Was thinking if I did this before SP CLI with Amex, Citi, Disco, that it would grease the wheels. I have found whenever I ask for CLI they usually give something just below my largest card, but not more than my largest card.

[Anonymous]

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@Anonymous wrote:

Ultimately my goal is to get multiple lines over $50k (would rather have 6-7 high quality cards vs 15-20 cracker jack cards). Why, not just because I can, or to brag. I want to keep utilization under 50% on any one card at any time( ie, borrow $40k @ 0% on one $80k line rather than two $40k lines).

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Is that something you plan to do, or is it more of a you'd rather have it and not need it than need it and not have it type of thing?  If that's the case, I'd just roll with the lower limits and then do the combine or limit moving if/when the time comes that you need to make that $40k / 0% purchase. 

[UpperNwGuy]

OP, the kind of borrowing you are talking about is best done through home equity loans or personal loans, not through credit cards.

[fittiger]

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@UpperNwGuy wrote:

OP, the kind of borrowing you are talking about is best done through home equity loans or personal loans, not through credit cards.

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I agree with @UpperNwGuy. Open a HELOC and utilize that for big purchases/home improvements. It's a big risk to utilize credit cards for this type of borrowing should your financial situation ever change.  That being said, OP's managing to borrow at 0% so 

[AverageJoesCredit]

Your limits with Chase, Citi, Amex, and Discover are pretty high in my humble opinion. Means you have great credir and high income. All you need to do is request cli and if your income supports more cli they should oblige. You could always go with Boa who many on here have gotten over 80k limits with their income and profiles. Just a thought.

[AverageJoesCredit]

Lol, i also like crackerjack cards, makes me feel like im winning a prize everytime i use one🏆😁

[Revelate]

A few thoughts that struck me reading this.

If you have enough income and expenses to justify those trade lines, I find it nearly impossible that you wouldn’t be flatly better off with the CSR over the CSP.

Secondly, do be aware that some FICO models appear to discount a certain level of CL: all cards above call it 35k limit may well get you to 0 revolvers on EX FICO 2 which doesn’t sound like a great credit score idea given that score is part of the mortgage trifecta.

Ultimately no lender apparently has taken AA against you in your current portfolio and use pattern, goosing limits up further might have unintended consequences with other lenders.

As a result just doesn’t seem like a great idea to me to push markers forward but YMMV when it comes to credit.