Reduce Chase Limit for a new card

lexrjSD · ‎03-07-2015

I just got 2 Chase biz cards Southwest (28K) and Ink (5K) and want to app for the Southwest personal card in 30 days and I also already have the CSP (15K). I plan to close the Southwest Biz once I get the 50K bonus so I was wondering if I should reduce my Southwest Biz limit so I have a better chance of approval since I'm going to close it anyways.

bigblue7722 · ‎03-07-2015

Never reduce first! Always apply first, see what happens if denied move your limit over.

AMEX PRG NPSL,Lowes $17000,Capital One venture card $12,000,Us Airways mastercard $9500,Fidelity Amex $9000, Discover it $8000, Capital One Venture One $7500, BOA 123 rewards $7500 CSP $6000, Capital One Quicksliver $5500, Amazon Store card$5000,Barclay
Card Ring $5000 Chase Marriott $5000,Chase Hyatt $5000, Sallie Mae Mastercard $4400, Paypal smart connect $4000,Chase Freedom $3200, Capital one Quicksliver visa $3000, Chase IHG Rewards $2300, Chase Southwest Premier $2000, Citi Double Cash $1500, AMEX BCE $1000

Last app July 22nd 2015- No apps for two years.

Anonymous · ‎03-07-2015

@bigblue7722 wrote:
Never reduce first! Always apply first, see what happens if denied move your limit over.

That's one strategy. Others reduce first to maximize the chance of auto approval, especially if they want to minimize "eyes on the account"

Creditaddict · ‎03-07-2015

@lexrjSD wrote:
I just got 2 Chase biz cards Southwest (28K) and Ink (5K) and want to app for the Southwest personal card in 30 days and I also already have the CSP (15K). I plan to close the Southwest Biz once I get the 50K bonus so I was wondering if I should reduce my Southwest Biz limit so I have a better chance of approval since I'm going to close it anyways.

I would not reduce and if you are going to close the southwest I would move that entire limit to your ink before closing it.

Anonymous · ‎03-07-2015

@lexrjSD wrote:
I just got 2 Chase biz cards Southwest (28K) and Ink (5K) and want to app for the Southwest personal card in 30 days and I also already have the CSP (15K). I plan to close the Southwest Biz once I get the 50K bonus so I was wondering if I should reduce my Southwest Biz limit so I have a better chance of approval since I'm going to close it anyways.

You might want to tread cautiously with this plan. I read of flyertalk (although I can't find the link at the moment) that chase can claw-back the bonus if you close account less the 6 months from opening it.

chalupaman · ‎03-07-2015

@Anonymous wrote:
@bigblue7722 wrote:
Never reduce first! Always apply first, see what happens if denied move your limit over.
That's one strategy. Others reduce first to maximize the chance of auto approval, especially if they want to minimize "eyes on the account"

I've heard that can work best with Citi and their cards though I wouldn't be surprised if Chase worked the same way.

Tradelines: Macy’s - $18k, Penfed Power Cash Rewards - $10k, Ethan Allen (TD Bank) - $5.7k, Kay Jewelers - $5.5k, Appliances Connection - $5.3k, Jared - $5.25k, Best Buy (Citi) - $5k, Dell Preferred Account - $3.5k, Samsung - $3.2k, Firestone CFNA - $3.2k, Capital One Platinum - $3k, Mercury MC - $2.25k, Williams Sonoma - $2.1k, Wayfair (Fortiva) - $2k, Amazon Store Card - $1.8k, Apple Card - $1.7k, NFCU cashRewards - $1.5k, CareCredit - $1.5k, B&H Photo - $1.5k, Adorama - $1.25k, Ebay MC - $1k, Sam’s Club MC - $1k, American Eagle - $1k, Ollo MC - $600, Mission Lane Visa - $500, NY & Company - $500, Walgreens - $500, Home Depot - $500, Target RED Card - $500, CapOne Secured MC 0 AF - $500, Penfed Overdraft LOC - $500

Current FICOS: Mid 640s-50s on all reports, Ch 7 BK D/C Aug 2019
Starting scores: EX - 534, EQ - 574, TU - 516 | Total TLs: $91k approx | Total Utilization: 17%, getting this back down

NRB525 · ‎03-07-2015

@Anonymous wrote:
@lexrjSD wrote:
I just got 2 Chase biz cards Southwest (28K) and Ink (5K) and want to app for the Southwest personal card in 30 days and I also already have the CSP (15K). I plan to close the Southwest Biz once I get the 50K bonus so I was wondering if I should reduce my Southwest Biz limit so I have a better chance of approval since I'm going to close it anyways.
You might want to tread cautiously with this plan. I read of flyertalk (although I can't find the link at the moment) that chase can claw-back the bonus if you close account less the 6 months from opening it.

I tend to agree with the suggestion to tread cautiously.

Your Airline Miles May Vary

creditfan · ‎03-07-2015

chase won't allow transfer CL from Biz to personal since OP intended to get rid of Biz card

better close to reduce then apply

@bigblue7722 wrote:
Never reduce first! Always apply first, see what happens if denied move your limit over.

Creditaddict · ‎03-07-2015

He has 2 business cards!

Anonymous · ‎03-07-2015

Hmm clawback doesn't sound good.