Recent Grad Needs Advice

[mmoon24]

After reading what everyone has to say, I think my first and best course of option will be to combine my limits on my +1 and Freedom. After that, I'll look into probably Southwest, CSP, or an Arab Emirates if one exists. One question, if I combine two credit cards, doesn't that "close" my +1 account? I always thought closing old credit cards was a bad thing?

[Creditaddict]

Sounds like you are past your 61 days on Amex too... you should ask for a 3x current CLI. $9900.

I would just go ahead and apply for whichever chase you want now and then you can figure out combining or PC the other ones later.... you have a lot of history with them which they love and these newer cards they have been giving some much higher limits especially to those adding additional chase accounts to their wallet.

[scenery_guy]

Good observation with closing the card. you have been reading the boards. 

The card will still be on your reports for 10 years with the history of good payments. In 10 years when that card drops off you will have a great robust history with prime cards. Sometimes it's a better move to close an older lower limit card. For some people it's a forever card and for some it's a stepping stone. You will never be going backwards so I doubt you will need that stone again. My suggestion of talking to a Chase representative is to get their feeling on your future. Sometime they are of no help and sometimes they have a good idea. It never hurts to ask, you can always decline anything they offer and hang up. Nothing bad will happen from the call. Let Chase have the opportunity to offer something. 

Creditaddict brought up a good point and I missed it. If you are past 61 days with AmEx you should call the number on the back of the card and request an increase. They will ask how much you want, the maximum is 3X your current limit - request $9,900. They may counter offer a much lower number or very close to what you ask. I would take what they offer. I would suggest you wait until you start the new career even of you do this the week you start. They ask you information about income and this is a great opportunity to update your info with AmEx with new salary. I would call but you can do it online if you don't like talking to CSR. Both outcomes are the same so pick one. 

[mmoon24]

Just want to make one last post thanking everyone for their input and answers. I'll definitely take this advice to heart. Can't wait to start my new job, and better my overall credit card usefullness!

[mmoon24]

Just wanted to give a bump, because I have an update.

Went to my local Chase Branch this morning and spoke to a banker. I will say, I was a bit annoyed that I knew more about the credit cards and rules than my own banker. When I asked her questions about closing, combining, or applying, she wasn't sure on most of them and had to call another line.

Anyways, turns out I'm Pre-Approved for a CSP. So I'll probably apply for that a bit down the road, and also increase the limits on my AMEX and Freedom.

[scenery_guy]

That's awesome! An offer in branch typically has a lower spend threshold for the bonus points than available online. When you are ready to apply check the online offer then go in branch and ask what they can offer. It's nice to throw the branch a bone and let them get the new card account. Helps with branch quotas. 

It's pretty common that the bankers in branch don't know the ins and outs of the credit card game. As long as they know who to call it's all good. When it's time for you to combine and cancel call the number on the back of your card. You will be speaking to an expert (as close as you will get first call). Remember you can always ask to speak to a supervisor to confirm something or try to get a better deal. Also you can always say no thanks and call back later.