I have about 36k in available credit from chase across multiple personal cards and another 22k on my chase business cards. I want to go for the chase marriott card. Should I lower one of my credit lines the way I do with citi or is it still easy to reallocate credit lines among personal cards to get an approval to go through?
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@Anonymous wrote:
@red259 wrote:I have about 36k in available credit from chase across multiple personal cards and another 22k on my chase business cards. I want to go for the chase marriott card. Should I lower one of my credit lines the way I do with citi or is it still easy to reallocate credit lines among personal cards to get an approval to go through?
From what I've read, it's 50/50 on whether you get a CSR that will let you reallocate credit to open a new one. If you have good recon skills then I would say don't lower your limits unless necessary. If not, and you're counting on an instant approval, then lowering it some might be advisable. You're getting in the range where instant approvals are not likely. Weigh your overall limits vs your income and if the percentage is high then at some point you'll need to lower them to keep getting approvals.
I'm not sure what percentage Chase starts barking at. This will likely be my last Chase card for quite some time. I don't mind reallocating, but I'd hate to give credit back and then end up with a denial.
@Anonymous wrote:
@red259 wrote:
@Anonymous wrote:
@red259 wrote:I have about 36k in available credit from chase across multiple personal cards and another 22k on my chase business cards. I want to go for the chase marriott card. Should I lower one of my credit lines the way I do with citi or is it still easy to reallocate credit lines among personal cards to get an approval to go through?
From what I've read, it's 50/50 on whether you get a CSR that will let you reallocate credit to open a new one. If you have good recon skills then I would say don't lower your limits unless necessary. If not, and you're counting on an instant approval, then lowering it some might be advisable. You're getting in the range where instant approvals are not likely. Weigh your overall limits vs your income and if the percentage is high then at some point you'll need to lower them to keep getting approvals.
I'm not sure what percentage Chase starts barking at. This will likely be my last Chase card for quite some time. I don't mind reallocating, but I'd hate to give credit back and then end up with a denial.
I gotcha. I'm not sure what percentage they start getting antsy. I faced the same dilemna with my recent Hyatt application. I was going to reduce my limit on my British Airways cardor close it out but I never got around to it. When I read about cobranded cards possibly falling under the 5/24 I went ahead and applied anyways. I figured I would have to reallocate but after 23 days they finally approved me. If I were you I would just go ahead and apply and see what happens. If you're denied then you'll just have to work on the CSRs to get them to reallocate.
I guess the worst case scenario with Chase is just a denial. Even if they only give me 5k that is alright. I'll app tonight after midnight once I see that payments on two of my chase cards went through, so they don't think I am in financial distress or anything.
@Anonymous wrote:
To give you some context here is what I have with chase and maybe his will help you decide.
Household income $225k
Scores all 800-810
Csp $21k
Freedom $14k
Hyatt $32k
And this month I applied for an Ink plus and was only approved for $5k so I'm guess I just hit their internal limit and may need to decrease if I want another
Also I am AU on another freedom for $11k and southwest for $28k before that ink app if that matters.
Interesting. I'm not sure how the ink card plays into it though. I'll give you an example. I had a 3.7k freedom and 17k CSP. I went for an ink bold card when it was a charge card. They required I transfer 5k over from my CSP to open the ink bold charge, so at that point I was at my ceiling. When my bold card became a revolver they turned it into a 12k credit line. Since then I have gotten a second ink card with 10k credit line (1-23-16) and I got a Hyatt card back in Jan 2015 where they gave me a credit line of 21.7k so I am not sure if Chase gets wary on the first ink card more than they do on the co-branded personal cards.