What do you do when your CSP AF is about to hit?

[red259]

While still about a year away and things can change I thought I would throw this out there and see what opinions are. I currently have the CSP. In the summer I intend to pick up the Chase ink plus/bold. Since those business cards would cover my ability to transfer to travel partners I would not want to keep the CSP past the first year. I also have the freedom card. The CSP is my largest current credit line (in a year it may be amex but for now its 17k). I see two options. Cancel the CSP or PC it to a CS and sock drawer it. I don't see any reason why I would use the CS once I downgrade. 

Reasons to downgrade: Keeps account open for AAoAs (I understand it will stay on my record for ten years even if closed, but my revolving credit history is short), I'm not sure if Chase would let me transfer my entire credit line to Freedom or other newly aquired chase cards. Does chase require I have the card 13 months before transferring the credit line? If so I guess I would have to eat the AF for the first year at least. 

Reasons to cancel: I would like to pick up some other chase cards (branded cards like marriot or hyatt, united etc) and would not want to hit my internal credit limits or get in a situation where Chase denies me for having too many chase cards (unlikely I would hit this ceiling but you never know), if I downgrade does that mean I will not be able to reapply for the CSP in the future and get the bonus again?   

[-Wade-]

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@red259 wrote:

While still about a year away and things can change I thought I would throw this out there and see what opinions are. I currently have the CSP. In the summer I intend to pick up the Chase ink plus/bold. Since those business cards would cover my ability to transfer to travel partners I would not want to keep the CSP past the first year. I also have the freedom card. The CSP is my largest current credit line (in a year it may be amex but for now its 17k). I see two options. Cancel the CSP or PC it to a CS and sock drawer it. I don't see any reason why I would use the CS once I downgrade. 

Reasons to downgrade: Keeps account open for AAoAs (I understand it will stay on my record for ten years even if closed, but my revolving credit history is short), I'm not sure if Chase would let me transfer my entire credit line to Freedom or other newly aquired chase cards. Does chase require I have the card 13 months before transferring the credit line? If so I guess I would have to eat the AF for the first year at least.  I don't know the answer to this.

Reasons to cancel: I would like to pick up some other chase cards (branded cards like marriot or hyatt, united etc) and would not want to hit my internal credit limits or get in a situation where Chase denies me for having too many chase cards (unlikely I would hit this ceiling but you never know), if I downgrade does that mean I will not be able to reapply for the CSP in the future and get the bonus again?   I would say NO

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Howdy Red

Only 4 things that you can do!!  Downgrade to the CS, PC  to another card with no AF, Pay it or close the account.

[Laugh]

You don't have to wait 13 months to move credit.

I moved 3k to my freedom from my united card after hitting the 3k spending.

[red259]

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@Laugh wrote:
You don't have to wait 13 months to move credit.

I moved 3k to my freedom from my united card after hitting the 3k spending.

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Ok. Maybe I am thinking of another lender with the 13 mont rule. That's good to know. 

[-Wade-]

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@red259 wrote:

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@Laugh wrote:
You don't have to wait 13 months to move credit.

I moved 3k to my freedom from my united card after hitting the 3k spending.

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Ok. Maybe I am thinking of another lender with the 13 mont rule. That's good to know. 

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AMEX has the 13 month rule

[red259]

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@Wade64 wrote:

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@red259 wrote:

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@Laugh wrote:
You don't have to wait 13 months to move credit.

I moved 3k to my freedom from my united card after hitting the 3k spending.

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Ok. Maybe I am thinking of another lender with the 13 mont rule. That's good to know. 

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AMEX has the 13 month rule

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That's what it was. 

[Anonymous]

move your 17k to the freedom and the new ink youre gonna get. 

then call it a day.

[red259]

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@Anonymous wrote:

move your 17k to the freedom and the new ink youre gonna get. 

then call it a day.

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Can't move it from personal to business card. Will chase let me move whole credit line to freedom?

[wHiTeSoL]

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@red259 wrote:

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@Anonymous wrote:

move your 17k to the freedom and the new ink youre gonna get. 

then call it a day.

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Can't move it from personal to business card. Will chase let me move whole credit line to freedom?

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I think you can move everything but $500

[Open123]

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@red259 wrote:

Can't move it from personal to business card. Will chase let me move whole credit line to freedom?

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Yes, all but $500.  There was a reason for keeping the $500, but I can't seem to recall it.  Maybe someone else will remember?