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

[CreditScholar]

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@Open123 wrote:

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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?

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That's the minimum amount to keep the account open. They transfer as much as possible first, leaving both accounts open. Then they close the account with $500 left on it.

[enharu]

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@CreditScholar wrote:

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@Open123 wrote:

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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?

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That's the minimum amount to keep the account open. They transfer as much as possible first, leaving both accounts open. Then they close the account with $500 left on it.

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If I am not wrong, the CSP has a 5k minimum CL requirement to keep the account open.... Not sure how that's going to work out if he's planning to close the CSP anyways. Maybe they'll transfer 12k first, and then 5k later on?

[CreditScholar]

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@enharu wrote:

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@CreditScholar wrote:

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@Open123 wrote:

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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?

---

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?

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That's the minimum amount to keep the account open. They transfer as much as possible first, leaving both accounts open. Then they close the account with $500 left on it.

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If I am not wrong, the CSP has a 5k minimum CL requirement to keep the account open.... Not sure how that's going to work out if he's planning to close the CSP anyways. Maybe they'll transfer 12k first, and then 5k later on?

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I'm not sure about the exact proceedures, but that's how it was explained to me one time. Granted that was on a card that came in a non-signature version, so it didn't have a 5k minimum. This one might be different, but I'm not 100% sure.

[GeneralCucumbre]

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@CreditScholar wrote:

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@enharu wrote:

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@CreditScholar wrote:

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@Open123 wrote:

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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?

---

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?

---

That's the minimum amount to keep the account open. They transfer as much as possible first, leaving both accounts open. Then they close the account with $500 left on it.

---

If I am not wrong, the CSP has a 5k minimum CL requirement to keep the account open.... Not sure how that's going to work out if he's planning to close the CSP anyways. Maybe they'll transfer 12k first, and then 5k later on?

---

I'm not sure about the exact proceedures, but that's how it was explained to me one time. Granted that was on a card that came in a non-signature version, so it didn't have a 5k minimum. This one might be different, but I'm not 100% sure.

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I just recently did this with my CSP.  I transferred my entire credit line, except for $500, on the CSP to my Freedom and Slate cards and closed the CSP.  As far as I know, Chase will not keep the account open on a CSP if it has a credit limit less than $5,000 (Visa Signature and World MasterCard regulations I'm assuming) but they will allow you to transfer the entire limit minus $500.  Also, there is no requirement that you keep the account open for a certain period of time before moving credit limits around.  In fact, Chase seems happy and eager to do it at times.  However, I cannot speak for moving credit limits between personal and business cards as I have never had a business credit card with Chase...but I want to say I do remember someone moving a limit from one of their personal accounts to a business account.

[DigitalArk]

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@GeneralCucumbre wrote:

I just recently did this with my CSP.  I transferred my entire credit line, except for $500, on the CSP to my Freedom and Slate cards and closed the CSP.  As far as I know, Chase will not keep the account open on a CSP if it has a credit limit less than $5,000 (Visa Signature and World MasterCard regulations I'm assuming) but they will allow you to transfer the entire limit minus $500.  Also, there is no requirement that you keep the account open for a certain period of time before moving credit limits around.  In fact, Chase seems happy and eager to do it at times.  However, I cannot speak for moving credit limits between personal and business cards as I have never had a business credit card with Chase...but I want to say I do remember someone moving a limit from one of their personal accounts to a business account.

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Does it make any differences if I transfer my CL on the CSP 3 months after opening or 11 months after to my Freedom? If so, how would the differences impact my credit reports or credit scores? 

[enharu]

@digital, if you have 0 balances on both cards,
It will not affect anything. If you have balances on one or both of them, it will affect your utilization.

Other than that, credit reports do keep note of your CLs. Whenever you get a CLI or CLD, experian, and maybe others, will keep a note under account details about your previous and current CL. Doesn't matter much at all. It may just seem as if you got a huge CLI on your freedom, and AA / CLD on your CSP. If ever asked about it, a simple explanation to anyone will easily resolve any misunderstandings.

[DigitalArk]

@enharu

Thank you for the detailed explanation!

[DigitalArk]

Is it better to transfer the CL on CSP to Freedom than downgrading it to CS without AF?

[Revelate]

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@DigitalArk wrote:

Is it better to transfer the CL on CSP to Freedom than downgrading it to CS without AF?

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Looking at your signature line probably; CS doesn't offer you much you don't have already covered.

[DigitalArk]

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@Revelate wrote:

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@DigitalArk wrote:

Is it better to transfer the CL on CSP to Freedom than downgrading it to CS without AF?

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Looking at your signature line probably; CS doesn't offer you much you don't have already covered.

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Thank you Revelate!