Should I shift Chase credit before cancelling?
Jun 11, 2014, 10:29 am
#1
Original Poster
Join Date: Apr 2013
Location: Newport Beach, CA
Posts: 286
Should I shift Chase credit before cancelling?
So I've currently got 5 Chase personal cards and 2 biz cards. On my last app (Chase Marriott) a few weeks ago I went pending and then had to call the recon line. The rep told me they couldn't extend me any more credit so I offered to move 10k from one of my other cards.
Now I have two cards (united card and SW premier) that the AF is about to hit on and I want to cancel both. Is it better to cancel the cards thus opening up credit so that my next app might get approved instantly or is it better to try and shift the credit to another card and then cancel? Can you even do the latter?
Now I have two cards (united card and SW premier) that the AF is about to hit on and I want to cancel both. Is it better to cancel the cards thus opening up credit so that my next app might get approved instantly or is it better to try and shift the credit to another card and then cancel? Can you even do the latter?
Jun 11, 2014, 2:31 pm
#4
Join Date: Aug 2013
Location: RSW
Programs: Hyatt Plat,SPG-Plat,Hertz-PC
Posts: 161
then it is up to you! You may let it go or shift it to your other account. Either way, it is a credit line ( subject to go up and down based on your spending pattern ). But if you ever request to increase your credit line from Chase, then it would require hard inquiry.
Jun 14, 2014, 10:44 pm
#7
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,760
This year Chase took $5K from Freedom $20K to open an Ink Plus totally without my knowledge.
I now simply cancel Chase cards without shifting credit lines because this would help me to get instant approvals instead of the need to do recon.
Jun 18, 2014, 3:27 am
#12
Join Date: Jan 2013
Location: 212
Programs: Marriott Titanium, Hilton Gold, UA Silver
Posts: 502
Are people sure that helps? Admittedly, Chase my regret giving me so much credit available and wouldn't want to give it back to me if I let it go.
Jun 23, 2014, 11:40 am
#13
Join Date: Sep 2013
Posts: 466
So I've currently got 5 Chase personal cards and 2 biz cards. On my last app (Chase Marriott) a few weeks ago I went pending and then had to call the recon line. The rep told me they couldn't extend me any more credit so I offered to move 10k from one of my other cards.
Now I have two cards (united card and SW premier) that the AF is about to hit on and I want to cancel both. Is it better to cancel the cards thus opening up credit so that my next app might get approved instantly or is it better to try and shift the credit to another card and then cancel? Can you even do the latter?
Now I have two cards (united card and SW premier) that the AF is about to hit on and I want to cancel both. Is it better to cancel the cards thus opening up credit so that my next app might get approved instantly or is it better to try and shift the credit to another card and then cancel? Can you even do the latter?
I now have a large credit limit (~$30,000) relative to my other credit cards. I thought this might have something to do with my IHG application not getting instantly approved, but I just checked the app and they've tacked on a $15,000 limit on the IHG card.
I say hold onto your credit limit, if for nothing else but credit score reporting purposes.
Jun 26, 2014, 4:28 pm
#14
Join Date: Jun 2013
Posts: 510
I'm cancelling my United Explorer as the annual fee is due next month. I don't have any other personal chase card. Only have an Ink Plus.
Can/should I transfer the limit to Ink plus before cancelling? If I won'y be able to transfer limit back from Ink Plus in the future I think I'm going to cancel without transferring.
Can/should I transfer the limit to Ink plus before cancelling? If I won'y be able to transfer limit back from Ink Plus in the future I think I'm going to cancel without transferring.