Originally Posted by
lazyy
would this be considered churing?
I have a Chase freedom and a Chase Mileageplus. I move all my credit from the MP to the Freedom and close out the MP. Then apply for a new card.
What are the advantages or disadvantages of this process versus just cancelling a card and losing the credit limit? Thanks!
The disadvantages are as follows:
1. Chase doesn't like it when you close the card too soon. Never do it within at least 6 months since opening or you can lose the bonus.
2. You won't have any leverage when you apply for another Chase card. It doesn't apply to your situation since you only have 3, but the more Chase cards you get the harder it becomes to get approved without negotiating.
GK17 already covered the advantage of moving the credit.