Chase consolidation?

[Hanoi IG]

OK, just got CSR but they cannibalized $$ from my CSP so I only have $12K and $16K combined. I also have a Freedom(regular).

My wife has the same 3 cards with much bigger limits. Does it make sense for me to dump CSP and see if they will transfer the limit to CSR which of course is the card I want to use most?

Since UR's can be moved around, it doesn't matter whether I charge on my cards or wife's now that the limits have been met for bonus.

 

[Matt]

I don't know much about the CSR, but assuming it does everything the CSP does in terms of overseas fees etc then it seems 'pointless' to maintain it. They will transfer the line, barring a small amount, best to drop the balance on the CSP to zero prior as the balance will prevent the transfer in my experience.

You should be able to go up to about $35K per chase card before another pull.

 

[Hanoi IG]

I don't know much about the CSR, but assuming it does everything the CSP does in terms of overseas fees etc then it seems 'pointless' to maintain it. They will transfer the line, barring a small amount, best to drop the balance on the CSP to zero prior as the balance will prevent the transfer in my experience.

You should be able to go up to about $35K per chase card before another pull.

Thanks. I actually paid them both off to make it a cleaner transaction when I call.

 

[Hanoi IG]

Now for my wife. She also has CSP and CSR but with over $30K on each. Is it worth consolidating these? I don't think they will give her 67K on one(or would they?) but in truth we have plenty of credit for big purchases and can always lay off some on my CSR if needed.

 

[Cory]

...but in truth we have plenty of credit for big purchases and can always lay off some on my CSR if needed.

I think you just answered your own question - I don't know if I'd need 67k on a single card, but it would probably be useful to have a Freedom or Freedom Unlimited instead of the CSP, since the CSR is better than the CSP in all practical ways (except for that annual fee of course )

 

[Hanoi IG]

She already has a Freedom. Just thinking Preferred will never be used so why not save the small fee and see how much they will give to her Reserve.

 

[Hanoi IG]

So for FICO score is it better to keep more available credit even if you won't use the card? They might let her keep some of the credit and move it to the CSR

 

[JivyIvy]

I was in the same boat as you. I applied for Reserve and then called in to request a reallocation of my existing credit line rather than extending additional credit. I had about 40k on CSP and didn't think I would be eligible for the Reserve otherwise, given my other accounts with Chase. I was approved within days (at the height of all the Reserve hype when they ran out of cards) and I called the lending dept. at Chase and requested a credit line transfer from CSP to Reserve, explaining that I'd be closing out the CSP but didn't want to forfeit the credit against my score. I'd paid off the card in full and within minutes a manager was able to pull some strings and reallocate the balance of my CSP credit line over to Reserve, then close out the account. Actually, I think I had to wait a full statement cycle without any activity posted on the account before I could officially close it out. Point being, I retained my full line of credit with Chase so there's no discrepancy in what's being reported to the bureaus, and I was able to get it loaded onto the new card while dumping the old CSP. Call the lending dept. and explain your situation, it's a fairly easy process. Just make sure you keep the CSP account open until the credit line is moved, because once it's closed, you can't do anything with it.