Originally Posted by
Thunderroad
Thanks for the very useful discussion. I'm planning to apply for the Chase Sapphire Reserve for Business, for both the 200K points and the perks. But because I've recently been turned down for a couple of cards (one business, one personal) from other firms recently, with the explanation being that I have too much unused credit, I'm thinking of pruning my cards (which I've held from one to ten years) in the following ways:
1. Mainly closing these Chase business cards: United, Ink Business Unlimited, (the old) Ink Business Plus, Ink Business Preferred. I've transferred all my UR points to my Chase Sapphire Preferred.
2. I'd retain my Ink Business Cash because it offers 5X for phone and internet bills and because it has no annual fee.
3. Also close my Hilton Amex Business.
Thanks for any advice.
Chase doesn't care about your Hilton Amex Biz, and presumably that card isn't reported to the CRAs.
It is not clear if closing cards will help - there is some evidence that suggests it does but contra that Chase is also wary of people closing after they receive the SUB.
Chase will look at total credit allocated and you haven't mentioned what Chase personal cards you hold. But you may want to close one to free up some additional credit.
In sum, I do not see any harm in closing some of the Chase business cards, and then waiting 1-2 months before applying for CSR-Biz. Also use this time to show that you are actively using other Chase cards, though not running high balances which is another red flag.