Originally Posted by
quincyc
I recently got approved for the Chase Freedom card with a credit limit of $1500. I was surprised since I usually get approved for higher limits. I would like to apply for Sapphire Preferred soon, but I'm thinking my chances won't be high given the low credit line on my Freedom card.
If I reduce the credit limit on one of my Amex cards (and thus the total amount of credit available to me), would this improve my chances of obtaining a Chase card? Or do banks only care about the amount of credit that they themselves extend to an individual?
Thanks in advance.
I'm not sure how Amex would respond to such a unique request. Normally the request is for a line increase but I can understand why you want the Amex line reduced.
From personal experience, I have a Chase Continental Signature Visa card with a $23,000 limit. After having the card for a few years, I applied for the Chase Rapid Rewards Visa and was approved, but only for an $800 limit. I'm sure Chase applications are scrutinized a lot more for those who already have a higher limit card with Chase. And since I also had a Starwood Amex with a $15,000 limit, I'm sure that played into their decision as well.
I think the problem is that you can't be sure how much of a reduction to request since approval procedures are not known. I never hurts to call and ask Chase Sapphire.