Move credit line and close CSP?

tcbofade · ‎10-05-2020

....or not?

DW has a Chase Slate card with BT offers available. Balance is zero, CL is $10k.

She's got a $13.5k Freedom Unlimited card currently carrying a zero percent balance on it around $6k.

She's got a CSP with a $5k limit, zero balance, and no BT offers.

Does she ask Chase to move the limit from the CSP to the Slate card and close the CSP, or will we regret it later?

Honestly, we weren't getting much use out of the CSP BEFORE the great Corona cootie struck, and now it's absolutely worthless to us, and we could use the balance transfer availability on the Slate card.

Your thoughts?

Fico 8 11/01/25: EX 795, EQ 796, TU 795.
Fico 9: EX 812 04/15/25, EQ 804 04/08/25, TU 792 02/15/25.

Zero percent financing is where the devil lives...

Anonymous · ‎10-05-2020

Instead of closing it, you could move 4500 to the slate and product change the sapphire to a freedom flex or even the no annual fee sapphire

This way you can product change back to the CSP or CSR in the future without taking up a 1/12 or 5/24

The no annual fee sapphire is only obtainable by downgrading, you cannot apply for it through their website, you have to call them

coldfusion · ‎10-05-2020

This. As long as you've had the CSP for 12 months you can downgrade it to a Freedom-class card instead of closing it. You can reallocate CL whenever you see fit.

If at some point a travel card again becomes a priority you can choose to shift CL around again and request an upgrade back to a CSP. Going down this path avoids 5/24 concerns or denial risks; keep in mind that you wouldn't be eligible to collect another Sapphire SUB until 48 months after you earned the one on your current card.

(10/2025)
FICO 8 (EX) 838 (TU) 846 (EQ) 850
FICO 9 (EX) 850 (TU) 850 (EQ) 850

$1M+ club

Artist formerly known as the_old_curmudgeon who was formerly known as coldfusion

randomguy1 · ‎10-05-2020

@coldfusion wrote:
This. As long as you've had the CSP for 12 months you can downgrade it to a Freedom-class card instead of closing it. You can reallocate CL whenever you see fit.

If at some point a travel card again becomes a priority you can choose to shift CL around again and request an upgrade back to a CSP. Going down this path avoids 5/24 concerns or denial risks; keep in mind that you wouldn't be eligible to collect another Sapphire SUB until 48 months after you earned the one on your current card.

Yep. I would product change.

Two caveats:

1. Must call for a product change, must have the card for 1 year to PC to one of the Freedom cards. Can expedite shipping on the new PC'd card.

2. Can shift credit limits via SM.