Originally Posted by
Dr Jabadski
Based on this experience of lowering CLs, application under review and relatively brief recon call with no questions followed by approval, I’m still unsure.
For Biz cards I think I’ll continue for the time being to lower CLs. For personal cards, only 2 open with low 6 figure CL total/combined, I’m going to maintain and reallocate prn* at least until a Sapphire Reserve application in a month or 2. That’s based partially on instant approval and/or successful recon call perceived probabilities and partially on preference for high CL on personal cards so if I (forget and) don’t pay a (high) balance prior to statement date a high utilization won’t be reported to a credit bureau. (Card with $50k CL and $2k balance is 4% utilization, same card and balance with $5k CL is 40%.)
I have 5 Chase personal cards (will be 4 soon when I close WN) and 3 Chase biz (maybe 2 if I close UA). Typically I re-allocate CL before closing personal cards but do nothing when closing biz cards. I have occasionally re-allocated biz cards to accommodate large purchases or SUB spend as Chase has been more stingy with biz card limits.
I ask the question because I am still debating if it makes sense to reduce the CLs on biz cards if you don't plan to apply for another one ASAP. As I average 2 Chase apps a year, I am not sure it makes a difference for me.