From the wiki:
However, substantial evidence from 2014 onward strongly indicates that Chase is increasingly likely to reject applications (or at least not auto-approve them) where an applicant has an existing total credit line that is high compared to his/her income & spending patterns. (For many members, the threshold appears to be in the $45K-60K range, but that is highly speculative.)
There is no known minimum wait between lowering a CL and having the freed-up amount become available for purposes of a new application. A prudent applicant will, as recommended above, plan well in advance; failing that, an applicant would be wise to wait at least 24 hours between lowering a CL and applying for a new card.
I'm really embarrassed to have made such a mistake, but I forgot to lower my wife's CL on her two personal Chase accounts before she applied for the Ink Preferred a couple days ago. She has high limits on these, totaling $63k.
As expected, she got the 30-day pending notice. Although she applied as a sole proprietorship, the wiki states that reducing CL on a personal card for the sake of a business card is no longer done by Chase reps. Does anyone have any data one way or the other, or opinions as to whether reducing her CL on personal cards now could have any impact on her current Ink app?
If not we'll probably just have to accept the denial if it comes and try again in a few weeks after lowering her personal CLs. Our only other hope is that they would extend her some new credit based on an increased reported annual income since her last Chase card was opened.