Three days ago, the annual fee finally hit on my CSP ($10,700 CL / no balance / no spending activity for the past three months).
Last night, I called Chase to consolidate the entire CSP limit into my Amazon Prime Rewards Visa. "Mary" informed me that only $9,605 was eligible to be consolidated. I asked for clarification about the $1,095 that was ineligible. Her cryptic response was that it was because the $95 annual fee posted. I followed up asking about the $1,000, but her response was a long-winded, barely-audible script. In the end, I asked her to move an even number -$9,600- to my Amazon card, then to close my CSP.
So, in my prior searches here, I thought that we were allowed to move an entire CL, providing there is no spending activity in the last three months?
Last night, I called Chase to consolidate the entire CSP limit into my Amazon Prime Rewards Visa. "Mary" informed me that only $9,605 was eligible to be consolidated. I asked for clarification about the $1,095 that was ineligible. Her cryptic response was that it was because the $95 annual fee posted. I followed up asking about the $1,000, but her response was a long-winded, barely-audible script. In the end, I asked her to move an even number -$9,600- to my Amazon card, then to close my CSP.
So, in my prior searches here, I thought that we were allowed to move an entire CL, providing there is no spending activity in the last three months?
As far as I can tell, it would be necessary for a bank to include some level of credit limit on a revolving account, even if the intended next step is outright closure. With an AF card, that could justify the $1k + AF minimum limit to be on the card.
Seems a small non-cash price to pay to move the remaining limit to an open card.
After all, any credit limit is just pretend money, until such time as you draw on it, and at that moment it becomes a real obligation you have to pay back, potentially with substantial interest cost to boot.
Congrats on the consolidation, and on making the choice to close a card to simplify your portfolio and avoid unnecessary AF costs.
@Peteyglad wrote:The last experience I have is 6 months or so ago my wife was able to move an entire limit from her CSP to her Hyatt after the annual fee had posted and there had been no activity for a month or two.
That is actually surprising to me that they allowed you to move an entire balance. My experience with Chase is that they typically require you to keep $500 minimum on the donor card, regardless of activity level. (I'm not sure why they were requiring $1K + the $95 AF in the OP's case.) Other than that, they've been very easy to deal with moving limits between cards. I found that getting higher limits with Chase through this method (adding cards which eventually would be closed and consolidated) is much easier than just calling and asking for a CLI. It seems they are glad to approve you for a new line of credit but more reluctant to approve increases unless there is a lot of activity and use of existing credit line. I took a few HP's over the years and then got denied for CLI but they never denied me for a new card. Only one time did they borrow from an existing CL to open one of my new accounts, and that was after I had very high overall lines of credit with them (over $100K). Every other time, it was all new credit lines. So maybe next time I consolidate, I'll push for 100% of CL to be moved.
@Anonymous wrote:
@Aim_High wrote:
@Peteyglad wrote:The last experience I have is 6 months or so ago my wife was able to move an entire limit from her CSP to her Hyatt after the annual fee had posted and there had been no activity for a month or two.
That is actually surprising to me that they allowed you to move an entire balance. My experience with Chase is that they typically require you to keep $500 minimum on the donor card, regardless of activity level. (I'm not sure why they were requiring $1K + the $95 AF in the OP's case.) Other than that, they've been very easy to deal with moving limits between cards. I found that getting higher limits with Chase through this method (adding cards which eventually would be closed and consolidated) is much easier than just calling and asking for a CLI. It seems they are glad to approve you for a new line of credit but more reluctant to approve increases unless there is a lot of activity and use of existing credit line. I took a few HP's over the years and then got denied for CLI but they never denied me for a new card. Only one time did they borrow for an existing CL to open one of my new accounts, and that was after I had very high overall lines of credit with them (over $100K). Every other time, it was all new credit lines. So maybe next time I consolidate, I'll push for 100% of CL to be moved.
They might have been willing to grant his wife higher limits and thus allowed her to move her entire limit, whereas one who is near max total CL by the lender would force surrendering 500+ of their line when moving CLs.
I am afraid to apply for any new card with an existing lender for fear of a $500 limit lol.
Nope. Actually, they did that to me before when I was well below where I am now in total credit lines with them. The CSR explained to me that they "had to" leave a $500 limit by policy on the donor card and IIRC, they wanted to see no activity for the past 30 days to make sure all charges had cleared. There was nothing about allowing 100% of CL to be moved if the donor card was inactive for 3 months or 6 months, but maybe that would have made a difference.
RE: "I am afraid to apply for any new card with an existing lender for fear of a $500 limit lol."
As I remember someone commenting recently on another thread, you are very well-diversified among banks with only one card per bank. Diversity is great but I think most people can have two or three cards with a lender without feeling they are too "locked-in" to one bank. (Have you had AA and account closures before so does that make you concerned?) Looking at your scores and healthy limits, I think you could easily push a few of your other banks for more credit without the dreaded $500 CL award. 
You already have very respectable limits of $12K to $50K on all your cards (with the exception of your Lowe's store card, which you could probably easily push higher from what I've read about it.) The only concern would be if your income is a limiting factor or Debt-to-Income is a limiting factor. Barring that those are in a healthy position, I think you should consider going for more! At this point in my journey, pushing to the maximum limits I can get with some major banks is actually part of my end-strategy and game. (Hence: Aim_High) Worst case scenario: You learn you are at their maximum limits for your profile and you wasted a hard pull. But the potential rewards of a much higher overall credit line would be worth it, especially if you only have one card per bank already. You probably have room to grow.