Reduce chase credit lines prior to app?

[red259]

I want to go for a CSP and get a high enough credit line that I can PC it to a CSR in the future if I decide to do so. I have a lot of credit with chase already. I don't want to lower my available credit on my personal chase cards if I can avoid it. I have three chase business cards as a sole prop. Will lowering my available credit on one of my business cards free up the available credit overall for new cards?

[randomguy1]

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@red259 wrote:

I want to go for a CSP and get a high enough credit line that I can PC it to a CSR in the future if I decide to do so. I have a lot of credit with chase already. I don't want to lower my available credit on my personal chase cards if I can avoid it. I have three chase business cards as a sole prop. Will lowering my available credit on one of my business cards free up the available credit overall for new cards?

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Yes, it's total exposure. What % of your total credit exposure do you have with Chase in relation to your income? Does a CSP approval put you over a certain %?

[FlaDude]

When I apped for my most recent Chase card, it was initially denied. I called for recon and they approved, but only on the condition that there was no new CL, it had to be taken from my existing cards.

I would not preemptively try to reduce my CLs, if they want to move some for the new card, the more you have to start with, the better.

[red259]

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@FlaDude wrote:

When I apped for my most recent Chase card, it was initially denied. I called for recon and they approved, but only on the condition that there was no new CL, it had to be taken from my existing cards.

I would not preemptively try to reduce my CLs, if they want to move some for the new card, the more you have to start with, the better.

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My understanding is that you can't move credit from business cards to personal cards like that. 

[GrandBaker]

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@red259 wrote:

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@FlaDude wrote:

When I apped for my most recent Chase card, it was initially denied. I called for recon and they approved, but only on the condition that there was no new CL, it had to be taken from my existing cards.

I would not preemptively try to reduce my CLs, if they want to move some for the new card, the more you have to start with, the better.

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My understanding is that you can't move credit from business cards to personal cards like that. 

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I assume that will depend on if your business cards are associated with your SSN or a separate EIN.

[GrandBaker]

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@FlaDude wrote:

When I apped for my most recent Chase card, it was initially denied. I called for recon and they approved, but only on the condition that there was no new CL, it had to be taken from my existing cards.

I would not preemptively try to reduce my CLs, if they want to move some for the new card, the more you have to start with, the better.

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I was not denied but not instantly approved either so called Chase. They verified my application info and said they will need to move CL from CF to Quest accounts. I was given the option to decide on amounts for each card so that was good.

[coldfusion]

It was a well-known classic churning trick to reduce ones total exposure with Chase as needed to ensure you were below a particular threshold before applying for an additional card as it improved the probability of success.  It's probably been close to 3 years since I've commented on this subject here.

From memory the suggested algorithm was that at the time of application your total exposure with Chase should be no more than (50% of your yearly gross income - $10K) e.g. if your yearly gross income was $100K your total exposure should be no more than ($50K - $10K) = $40K.  Keep in mind that this was done with the mindset that approval was extremely important but SL was not as the singular goal was the ability to meet SUB requirements.   There is a certain risk in that you can reduce your limits before applying and still have your application denied, and if you are at the lower end or very high end of the income spectrum this formula wouldn't be accurate. 

You can suggest a reallocation of limit if you are on a recon call and occasionally an underwriter will suggest it but Chase will not reallocate limit from a business card to open a personal card.

[red259]

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@GrandBaker wrote:

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@red259 wrote:

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@FlaDude wrote:

When I apped for my most recent Chase card, it was initially denied. I called for recon and they approved, but only on the condition that there was no new CL, it had to be taken from my existing cards.

I would not preemptively try to reduce my CLs, if they want to move some for the new card, the more you have to start with, the better.

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My understanding is that you can't move credit from business cards to personal cards like that. 

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I assume that will depend on if your business cards are associated with your SSN or a separate EIN.

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Mine share a SSN but I am almost certain I had asked chase about this in the past and they refused to move credit between business and personal cards. In the end I reduced the credit line on one of my business cards that I don't use. Will see what kinda impact it has with future apps.  My last chase card was the united explorer card several months ago and only got the minimum credit line which tells me I am probably near the ceiling of overall credit they will extend me. 

[FlaDude]

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@red259 wrote:

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My understanding is that you can't move credit from business cards to personal cards like that. 

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Even if you normally can't do that move, by reducing your biz CLs, you'd be doing that effectively when you got the personal card. I'd wait to see of you have problems before reducing CL. If you need to recon, you can offer it then if they don't suggest it.

[coldfusion]

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@FlaDude wrote:

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@red259 wrote:

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My understanding is that you can't move credit from business cards to personal cards like that. 

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Even if you normally can't do that move, by reducing your biz CLs, you'd be doing that effectively when you got the personal card. I'd wait to see of you have problems before reducing CL. If you need to recon, you can offer it then if they don't suggest it.

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They don't do it.    They will move personal to personal or personal to business, but not business to personal.