Need advise on moving limits on Chase cards

[Anonymous]

Hi All,

Need some advice. Ill start with the background - I currently have the Chase Amazon Prime, Chase Freedom Unlimited, Chase Sapphire Reserve, Chase Ink Unlimited, and a just acquired Chase Freedom.

Despite having rather large limits on all my Chase cards, my Freedom was approved with the minimum $500. I can only assume I am tapped out on what Chase is willing to risk with me. They did note on the application that I can move limits from my other cards to the Chase Freedom.

So my question is this, knowing that I will never go over $500 in monthly spend on any of the Freedom Categories AND that I always pay in full. Is it better to move some of the available credit from my other cards to the Freedom or just leave it as it is?

IE - Better to have a low limit, that may occasionally look like a high percentage on credit use ($250 at the end of the month would be 50% usage) - but not lower the limit on my other cards.

Or would it be better to lower the limit on my other cards to mitigate the small credit line on the Freedom, despite not needing a higher limit?

[Anonymous]

You can shuffle limits as you wish.  The only constraint is potentially if you move from personal to Ink you can't pull it back to personal later on.

I keep 6K on Amazon since every once in awhile I might charge 1K on it to keep the #'s low for scoring. I have a Freedom as a placeholder and just keep $900 on it for a CL to hold a spot for a potential PC at a later time since I'm likely not to see 5/24 anytime soon.

As to the 50% util.... as soon as you bring it to $0 Chase will report the update within a couple of days regardless of when your statement updates usually happen.

[gdale6]

Personally I would move some limit as I let my Chase report every month then pay to 0 and doing so updates the CRAs to 0 as well. If you are not going to spend more than 500 then I would think moving 1500 from another personal card would be in order.

[Remedios]

That's really up to you. Showing 50% utilization is not the end of the world and Chase will report to CRA whenever the account is paid to $00.00

With that said, if any of your other Chase cards are not used frequently, I'd move the limits around a little bit  because your Freedom has intro 0% APR should you decide to take advantage of it, or have  unexpected expenses. 

[Anonymous]

All good answers - which leads to one last question. If I do leave the $500 instead of moving limits - do you think Chase would be more likely to give an automatic CLI? (I know nobody knows for sure, so Ill take all answers as best opinion).

If not, then I think I will shuffle some things around as you all have mentioned.

[simplynoir]

No one really knows what triggers auto CLIs with Chase. Best you can do is move your limits around to meet your needs and if Chase decides to give you one consider that a bonus but don't count on it.

[Remedios]

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@Anonymous wrote:

All good answers - which leads to one last question. If I do leave the $500 instead of moving limits - do you think Chase would be more likely to give an automatic CLI? (I know nobody knows for sure, so Ill take all answers as best opinion).

If not, then I think I will shuffle some things around as you all have mentioned.

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With $500.00 approval, I dont think auto CLI will happen any time soon.Seems like you're maxed out with them at the moment. 

So, unless something changes, I would not expect to see them throwing additional money. 

[Revelate]

I don’t think anyone really has the info as to Chase CLI’s.

If it were me and I wasn’t using the other Chase limits I’d move over 1k but that’s me.

On the flip side Chase started me out there too back in the day and it is at 4K now from auto-CLI’s but really we probably talking on the margins of your existing credit limits.

[Anonymous]

Thanks everyone for the fast replies!!

I went ahead moved some of my total limit to the Freedom card.