What to do?

[Closingracer99]

Got approved for the CSP today and now have 4 Credit cards with Chase. $500 with the Amazon Visa , $3,500 with the Freedom , $5,000 with the Chase Sapphire and $5,000 with the Chase sapphire preferred. 

I am thinking of a few options here.

A) Close the Amazon Visa and move the CL to my Freedom

B) Close the Chase sapphire $5,000 limit to the Freedom and amazon ( Can i do that?) to add $1,500 to the Freedom and ask for Siggy, and add $3,500 to the Amazon Visa

C) Close the Chase sapphire $5,000 limit and Add it to A) Freedom or B) Amazon Visa

D) Just Hold onto them all 

Side note I wouldn't be doing this now considering how new the Chase sapphire card but I am thinking of doing it now but wondering how much would it hurt?

[MT936]

close the chase sapphire and move the limit to whatever you want your closed account will stay as a postive trade line for 10 years so you won't be affected until then

[irrational]

How old is your Freedom?

I moved $3,000 from my Amazon card to my Freedom, putting the Freedom at $7,000, but Chase said I wasn't eligible for an upgrade to Signature since the Freedom was less than 12 months old.

Depending on how old your Amazon card and your sapphire card are, you might just want to leave them open.

My Amazon card is over 11 years old, so I dropped the CL down to $500 and plan on leaving it open. You might do similar with the Sapphire, depending on age.

[Anonymous]

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@Closingracer99 wrote:

Got approved for the CSP today and now have 4 Credit cards with Chase. $500 with the Amazon Visa , $3,500 with the Freedom , $5,000 with the Chase Sapphire and $5,000 with the Chase sapphire preferred. 

I am thinking of a few options here.

A) Close the Amazon Visa and move the CL to my Freedom

B) Close the Chase sapphire $5,000 limit to the Freedom and amazon ( Can i do that?) to add $1,500 to the Freedom and ask for Siggy, and add $3,500 to the Amazon Visa

C) Close the Chase sapphire $5,000 limit and Add it to A) Freedom or B) Amazon Visa

D) Just Hold onto them all 

Side note I wouldn't be doing this now considering how new the Chase sapphire card but I am thinking of doing it now but wondering how much would it hurt?

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IMHO, you don't need Sapphire when you have the Preferred version. You can definitely close that and move credit line around. Yet I'm not positive if an upgrade to Signature card for Freedom is doable.

Second, do you really need the Amazon Visa? Even for shopping on Amazon there are better choices. So if you are willing to open another account (and of course get a HP for that ... ) for 5% on Amazon, yes you can close the Amazon Visa as well.

So IF I WERE YOU, I'd close both Sapphire and Amazon and transfer their CL to CSP or Freedom (maybe 10k + 4k) and apply for a Sallie Mae. Generally speaking Sallie Mae counts most purchases on Amazon as Bookstore (not always though). But again, this would cost one more HP so I'm not sure if you find it cost-beneficial.

[lonelyisland]

I'd app for a Sallie Mae (TU HP), close the Amazon and CS accounts and move the funds to CSP/Freedom. 

Then app for Marriott

[Anonymous]

Personally I would do nothing yet, unless for some reason you need more CL on one of the cards.  A real decision point comes when the CSP fee becomes due and you need to decide whether to keep it then.  So at that point you might to decide to close and move its CL to other cards, so I would really wait till nearer then.  And, if it turns out the CSP is really useful and you want to keep, you might want to transfer CL to it.   But at present you don't know, so I wouldn't do anything!

[Closingracer99]

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@Anonymous wrote:

Personally I would do nothing yet, unless for some reason you need more CL on one of the cards.  A real decision point comes when the CSP fee becomes due and you need to decide whether to keep it then.  So at that point you might to decide to close and move its CL to other cards, so I would really wait till nearer then.  And, if it turns out the CSP is really useful and you want to keep, you might want to transfer CL to it.   But at present you don't know, so I wouldn't do anything!

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The AF is worth it to keep the card for the metal design  

[Closingracer99]

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@irrational wrote:

How old is your Freedom?

I moved $3,000 from my Amazon card to my Freedom, putting the Freedom at $7,000, but Chase said I wasn't eligible for an upgrade to Signature since the Freedom was less than 12 months old.

Depending on how old your Amazon card and your sapphire card are, you might just want to leave them open.

My Amazon card is over 11 years old, so I dropped the CL down to $500 and plan on leaving it open. You might do similar with the Sapphire, depending on age.

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My oldest card is 14 months old and chase amazon is around 6 months and freedom and sapphire is a Month old 

[Anonymous]

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@Closingracer99 wrote:

The AF is worth it to keep the card for the metal design  

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Let's see if you still think that a year for now!   Hard for me to judge as I found it an anticlimax as soon as I got it (because it had been talked up so much)

[Kenny]

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@Anonymous wrote:

Personally I would do nothing yet, unless for some reason you need more CL on one of the cards.  A real decision point comes when the CSP fee becomes due and you need to decide whether to keep it then.  So at that point you might to decide to close and move its CL to other cards, so I would really wait till nearer then.  And, if it turns out the CSP is really useful and you want to keep, you might want to transfer CL to it.   But at present you don't know, so I wouldn't do anything!

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I agree. Plus I think the OP has been probably too active with Chase lately. Let it rest a little.