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Combining limits with Chase


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I've read about folks doing this.

 

I can see how some folks would want a higher limit on a card. Are there any other advantages or disadvantages that I'm unaware of? Is it considered a given that Chase will do this? Any negative consequence on the credit report?

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I've read about folks doing this.

 

I can see how some folks would want a higher limit on a card. Are there any other advantages or disadvantages that I'm unaware of? Is it considered a given that Chase will do this? Any negative consequence on the credit report?

I've never heard where Chase won't do this. The only thing is that some can move their whole limit and others all but $500.

 

You are closing out one account so the only impact, if any, comes from closing an account. The big positive is that you are creating a prybar.

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Prybar?

Many believe that once you have a large limit with one lender then others will follow. For example, you have a 5000 limit on all your cards. You combine with Chase and you're up to a 20000 limit. You apply at Citi and the expectation is that they will give you 20000 or near it since Chase already has.

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Ah, okay thanks.

 

I thought that once you had a couple of very high limit cards, they tended to consider that too risky and not give a third. Guess we're all different, and so are our scores.

high limits are not a risk factor.

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Ah, okay thanks.

 

I thought that once you had a couple of very high limit cards, they tended to consider that too risky and not give a third. Guess we're all different, and so are our scores.

high limits are not a risk factor.

 

Yeah, that's definitely not the case but a very common misconception. I had heard that quite a few times before joining CB.

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Chase does a SP on TU when you combine limits.

 

If they tell you that you need to leave $500 on the card, you're calling the wrong number.

Exactly.

 

If they say you can transfer all but $500, you are dealing with normal CSRs. You need to call Lending Services directly.

 

Mindy, the whole $500 thing is Kat58's brainstorm on another thread.

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I just decreased the limits on 4 of my other Chase cards and added it to my Sapphire card. Actually, you don't even have to call them. Send them a message on line while logged on and tell them which accounts you want the transfers from. I sent my message at 2am and they had my limits changed by 9am.

 

 

Sent from my iPhone using Tapatalk

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I am kind of curious what impact it would have on my score...

None.

 

How long does a card need to be open before you can transfer from or to it?

You can do it immediately.

Edited by mendelssohn
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I am kind of curious what impact it would have on my score...

None.

How long does a card need to be open before you can transfer from or to it?

You can do it immediately.

Mendel so I can combine both the slate & freedom I just received a week ago? Even before reports to CRA's for the first time? What about CLs, I believe my limits are low & I want higher CLs should I wait for increase waiting period then combine? Slate 1500 & Freedom 2000. Also, if I combine cards can I reapp for the card I cancel right away, 30days after or not at all?

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I am kind of curious what impact it would have on my score...

None.

How long does a card need to be open before you can transfer from or to it?

You can do it immediately.

Mendel so I can combine both the slate & freedom I just received a week ago? Even before reports to CRA's for the first time? What about CLs, I believe my limits are low & I want higher CLs should I wait for increase waiting period then combine? Slate 1500 & Freedom 2000. Also, if I combine cards can I reapp for the card I cancel right away, 30days after or not at all?

Remember the Chase 5/24 rule. I think there is also language that you cannot get the new account bonus if you had the same kind of account within the last 24 months.

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I went ahead and moved the bulk of my Amazon CL to my United card. She said she couldn't move the whole amount because I recently had a balance on the card. Once the card has had a zero balance for 90 days, I can move the remaining amount over to United and close the Amazon card.

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That doesn't jive with what Chase told me today. I had a balance of 1.45 yesterday - I'd paid it Saturday night - just needed to wait for it to post. They moved it all this morning when I called them back.

Your Amazon card is with Chase, right?

Edited by ukaserex
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I went ahead and moved the bulk of my Amazon CL to my United card. She said she couldn't move the whole amount because I recently had a balance on the card. Once the card has had a zero balance for 90 days, I can move the remaining amount over to United and close the Amazon card.

 

You are NOT paying attention here.

 

You are talking to normal customer service. You need to call Lending Services.

 

And you need to wait until your card has a completely zero balance with no pending transactions.

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I went ahead and moved the bulk of my Amazon CL to my United card. She said she couldn't move the whole amount because I recently had a balance on the card. Once the card has had a zero balance for 90 days, I can move the remaining amount over to United and close the Amazon card.

You are NOT paying attention here.

 

You are talking to normal customer service. You need to call Lending Services.

 

And you need to wait until your card has a completely zero balance with no pending transactions.

 

Ok, thanks. Just missed some of the comments.

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In my case, the decision was a no-brainer. The Chase card was older than my Amazon card, so I'm thinking not only does my individual utilization for Chase goes down, my AAOA goes up.

Your AAOA didn't change. It includes open and closed accounts.

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