brettdacosta said: I did an online increase with my Chase BP card that I had opened, used, and consistently paid off for 6 months. In the box I put 15K. Previously, I had a 5K credit line, and I thought I would shoot for the sky. I didn't expect to get all of it. I checked the next day, and my new credit limit was 20K. When you enter an amount, is it the amount of increase, or what you want your new line to be? What is a typical increase? Is a 15K unusual? And lastly - What helps your initial credit line (what requirements do you need to have to open an account with 20+K)? Thanks
Lets start real simple, like posting in the correct thread. This thread is about reallocating credit lines, it says so right there in subject line.
Your first question can be answered by going back to the Chase website and repeating what you did last time and reading the words on the form. You can get a sense of what is typical and usual by reading the first thread linked above.
Lastly for large initial credit limits it helps to have a high credit score, a large house hold income, and Some times asking for a large BT can help. Beyond that it is pretty much guess work. There are different rules for each issuer and they don't post their credit limit determination algorithms to public forums.
Automate said: Chase told me the card I want to transfer the CL to must have a zero balance. Has anybody else been told this?
Call again and get a more knowledgeable CSR. Zero balance is typically required if you want to consolidate the cards. However, if you only want to re-allocate CLs and leave the balances on each card as they are, balance should not matter, as long as it is below the requested new CL.
I just called BofA in order to consolidate WorldPoints MC (ex-MBNA) and WorldPoints Visa (ex-PowerRewards), and was told that I could do that even with balances on the cards, which would be transferred into the corresponding "Category" (A, B, C or D). That is, the rate might change, but the category will remain the same and corresponding terms will apply. It did not matter to me because I had 0 balance, but it is part of the standard disclaimer text that the CSR will read to you anyway.
last week I consolidated two Juniper cards (USair CL was consolidated into the Ntl Parks card with 12month 0%bt). Both cards were open for about 1 week. CS was quite friendly.
The week before I had o luck with citi (they would not let me merge the ATT card to Diamond rewards or Professional to either card)
I just reallocated one bank of america card to another adding 10K in additional credit to the card I use more often. Does it make sense to try an online CL increase later on the card that I just moved the 10K from. Would this work? I am not thinking about doing this now but i wonder what would happen?
robertw477 said: I just reallocated one bank of america card to another adding 10K in additional credit to the card I use more often. Does it make sense to try an online CL increase later on the card that I just moved the 10K from. Would this work? I am not thinking about doing this now but i wonder what would happen?
Robert On my last AOR I transferred 10k from an old BofA card to a new one. Then requested 10k CLI on the old card and received it. I thought they wouldn't approve the CLI since I just received additional CL on the new card, but it worked. Of course, it will probably depend on your exposure limit with BofA. Worst thing that can happen is they call you and refuse it. No big deal actually. Give it a shot.
AMEX maximum credit line of $100k per card on non charge card products!
I've been trying to move some credit line from a personal AMEX card to my business AMEX *wood card. My business *wood card already has a $100k limit. I tried reallocating another $23k to the business *wood card so that the credit limit would be $123k but the online form wouldn't take it. It kept saying the site is under maintenance. So I called up and found out that AMEX will not reallocate to a card with a $100k limit or higher w/out special supervisor approval. I submitted my request to a supervisor, and hopefully it will be approved, but it didn't sound too likely.
If I'd known it would be such a hassle dealing with $100k+ limit business credit card, I would have just applied for another business card and brought that limit up to $100k and called it a day. I think I will go ahead and do that since it was pretty easy to get up to $100k on the *wood business card via credit line increase and reallocations.
My AMEX business Gold charge card is at $150k after a full FR (which is not enough), but it seems that the non charge card products cap at $100k w/out having to go through a lot of strange red tape. The centurion bank rep on the phone told me that it was very unusual to have such a high limit on a credit card (non charge card) AMEX product (c.l. of over $100k). She said that the cards where businesses usually spend the most on are the charge card line or products like the AMEX gold, platinum and black cards (makes sense). I explained that AMEX would only give me $150k after an FR on my Gold charge card, so I needed other cards to support my business spending.
My total spending on credit cards last year was about $1.5 million (99% business related) as a data point, and I probably spent 75% of that amount with AMEX.
I also tried to do some reallocation between two Bank of America business credit cards this week.
The business PowerRewards card had $14k the Platinum Plus for Business had $75k. They would not let me move over any of the credit line to the other w/out closing one of the accounts. So I closed the platinum plus account with $75k and moved it to the Business PowerRewards card with $14k for an $89k total PowerRewards line. (The Platinum Plus card had rewards limited to 100k points per year).
djscal said: They would not let me move over any of the credit line to the other w/out closing one of the accounts.
I would call again and talk to a different rep if I were you. It may still not be too late to call and re-open a closed card. Personally, I do not close any cards without the need. When you applied for it, the damage to your score has already been done. Now you damage it further when you close it (typically). If you need to minimize the number of cards from a certain issuer prior to AOR, you can always do it later. In the meantime, you can enjoy promos from multiple cards and shift CL to the one with best terms.
Agree completely, and that was my intention. The rep was going to allow me to keep the card open with a credit line of 1k. He put me on hold to check with his supervisor and no dice. According to the supervisor, (in my situation) a condition of reallocating from one BofA business credit line to another BofA business card is that you have to close one of the accounts. I did not ask if this was always the case, or just in my own case because of the large amount of credit line I was moving over...
In this case, it's not that big of a deal since the card that was closed was not an old card with a lot of history.
djscal said: I also tried to do some reallocation between two Bank of America business credit cards this week.
The business PowerRewards card had $14k the Platinum Plus for Business had $75k. They would not let me move over any of the credit line to the other w/out closing one of the accounts. So I closed the platinum plus account with $75k and moved it to the Business PowerRewards card with $14k for an $89k total PowerRewards line. (The Platinum Plus card had rewards limited to 100k points per year).
Wow. I did not know the plat plus card maxes out at 100K points a year. I need to check that out myself.
I applied for a "0% for life on BT's" offer from Discover as part of a 10-card AOR (plus a few cards I got over the past few months for rewards like the $250 AMEX and the $150 Sony) on Tuesday...also applied for 6 cards for my wife. Anyway, I already had 2 Discover cards with a total CL of ~$26k. Discover called me yesterday about my ap...I wasn't home but called back today. The guy I spoke to said he was calling about the new card because I already had 2 cards with them and a pretty generous line of credit and wondered how much credit I needed on the new card. I told him I applied because of the attractive "0% for life BT" offer they sent me in the mail, and I'd like to get as much credit as possible on the new card. He said the only options were doing an income verification (which I told him I didn't mind but he seemed to indicate he was trying to avoid that) or moving some of the credit from the existing cards to the new card (he suggested it, not me). He ended up giving me $18,000 on the new card, but I think he would have probably given me more as long as I didn't care if it took it off the existing cards...I should've told him to take even more off the existing cards to at least get it over $20k. I think I'll request bumping it up to $20k when I call to activate, but I don't know if they'll play ball...I think this was the opportunity right here, talking to the "new accounts guy". I've had 1 of the 2 cards for ~19 years now...it was the first credit card I ever had, and I don't think I've ever had a late payment, and I always pay my bill in full each month...so I'm a pretty well-established customer.
Bottom line ==> It is possible to reallocate credit at Discover, but you may have to do it as part of the card approval process...so it might actually be better to call in Discover aps than doing them on-line...can't say for sure since I did mine on-line and then had a call-back, but again my application was for a solicited pre-approved card.
Reallocated $23k from my CitiBiz AA card ($25k CL) to my CitiProfessional card ($3k CL)...both were received as part of a recent AOR. At first the CSR wasn't sure if it could be done because the Professional card "is an oddball"...she admitted it's not like personal or business. Put me on hold for a while, came back to apologize for being on hold and asked how much I wanted to reallocate. I initially said $24k and she said there is a minimum $2k CL on business cards...so I said $23k would be fine. After being on hold a little while longer, she came back and said she had good news and it could be done and would be reflected in 2 days.
I know it's been mentioned that Citi views the Professional card as a Business card, but I didn't see any posts confirming this type of reallocation.
It's not true the minimum on Professional is 2k. I have less than 2k limit on mine, and this was AFTER the auto-CLI love on citibank's website once . They did want me to reallocate the limit from existing Citi account when I got the card due to my "sufficient credit obligations" with Citi, so perhaps normally $2k is the min.
ahself said: Reallocated $23k from my CitiBiz AA card ($25k CL) to my CitiProfessional card ($3k CL)...both were received as part of a recent AOR. At first the CSR wasn't sure if it could be done because the Professional card "is an oddball"...she admitted it's not like personal or business. Put me on hold for a while, came back to apologize for being on hold and asked how much I wanted to reallocate. I initially said $24k and she said there is a minimum $2k CL on business cards...so I said $23k would be fine. After being on hold a little while longer, she came back and said she had good news and it could be done and would be reflected in 2 days.
I know it's been mentioned that Citi views the Professional card as a Business card, but I didn't see any posts confirming this type of reallocation.
Economist said: It's not true the minimum on Professional is 2k. I have less than 2k limit on mine, and this was AFTER the auto-CLI love on citibank's website once . They did want me to reallocate the limit from existing Citi account when I got the card due to my "sufficient credit obligations" with Citi, so perhaps normally $2k is the min.
She was referring to a minimum on the CitiBusiness card I was transferring from. Perhaps the Professional card is treated a little differently from other Business cards as far as minimums Citi requires.
USAA let me re-allocate with no problems. Minimum I had keep on my MasterCard was $500. Everything else went to my AMEX with 0% on BT and $0 BT fee. Thanks USAA!
Citi let me reallocate from 2lines into a third... The Two lines were supposed to go to the minimum. One of them did, and it looks like they messed up and didnt decrease the other, but the third line has the addition of both other lines.... So i may ave just gotten a free 13500 in extra credit.
ahself said: Economist said: It's not true the minimum on Professional is 2k. I have less than 2k limit on mine, and this was AFTER the auto-CLI love on citibank's website once . They did want me to reallocate the limit from existing Citi account when I got the card due to my "sufficient credit obligations" with Citi, so perhaps normally $2k is the min.
She was referring to a minimum on the CitiBusiness card I was transferring from. Perhaps the Professional card is treated a little differently from other Business cards as far as minimums Citi requires.
I just got approved for 2 CitiBusiness cards and one has only a $500 limit for what it's worth. Citi's reason is that I have too much credit already on my personal cards. I'm going to soon try to move $40k of credit from my Professional card to a Citibusiness - I'll report back if it works in that 'direction'.
RadagastMOD said: Citi let me reallocate from 2lines into a third... The Two lines were supposed to go to the minimum. One of them did, and it looks like they messed up and didnt decrease the other, but the third line has the addition of both other lines.... So i may ave just gotten a free 13500 in extra credit.
Exactly the same thing happened to me with Chase. So I called to again reallocate from the card that didn't get decreased the first time. I ended up with a 70k credit limit on the 3rd card which had 0% BT/purchases for 12 months. Needless to say it's the most lucrative AOR card I've ever owned.
Citi is driving me up the wall! I have spoken to three reps who all state they do not EVER (perhaps they should read this forum) reallocate from the PP elite to any other card. They also won't let me reallocate from Citi Business to Professional or the other way around (although I was expecting this). I have a PP elite, Professional, biz PP and citibusiness. Anybody has any experience reallocating any combination of these?
shaik12 said: I have a question. I am having a AMEX and my wife is on that card. She is going to apply for new AMEX card. Can she transfer my CL to her new card. Nope. Although, It is very easy to get huge lines with AMEX... As soon as you get the card, go online and get an increase via the web. Keeping the line under 25000 seems to result in less financial reviews though.
Why not just change the PP Elite card for a different card with a real credit line? Then you could consolidate like normal.
simonduk said: Citi is driving me up the wall! I have spoken to three reps who all state they do not EVER (perhaps they should read this forum) reallocate from the PP elite to any other card. They also won't let me reallocate from Citi Business to Professional or the other way around (although I was expecting this). I have a PP elite, Professional, biz PP and citibusiness. Anybody has any experience reallocating any combination of these?
Chase just allowed us to reallocate four brand new cards (one business and three personal) and one old card (personal), onto one large $36,000 credit line on the business card. They told us there was a $35,000 limit, but when I checked the next morning, I saw that all $36,000 made it onto the business card.
djscal said: Why not just change the PP Elite card for a different card with a real credit line? Then you could consolidate like normal.
This is a good point, and one I haven't addressed yet as I am waiting on the 15k TY point sign up bonus. None of the CSRs mentioned the possbility of converting the card, but I guess it is the only way out.
On a side note, Chase happily consolidated $20k on to a new card for me. MBNA was also the same with $15k on old cards. I've only had difficulty with Citi.
I've been successful reallocating lines between personal cards with Citi, but I just recently got a Citi Professional as well and was hoping to reallocate some additonal credit from my personal cards to the Professional. Just tried and the CSR said she can't reallocate between personal cards and the Professional card...then she said it would have to be the same kind of card (another Professional card)...then she called it a business card and implied I could reallocate from other Citi business cards, but I don't have any others....still confused, but bottom line is no reallocating between Citi personal cards and the Citi Professional card, at least with this particular CSR !
I've got a situation with credit lines consolidation I'd like to get some advice on.
I have a pretty new Sony card, 95% utilization 0% till march 08. I also have a 39k CL on some other chase card that I just paid off a 0% BT in full. My credit scores/reports suck lately due to a combination of factors that includes recent pulls and heavy utilization. Chase has said they will do a hard pull to combine the CLs
My question is, should I try to combine the CLs? I could then drop utilization, get more BT $ or some combination of both. But I risk chase not combinining the lines or even cutting CLs. And another hard pull for my poor FICO score. Should I pay someting off on the recent Sony BT before I ask for consolidation?
I have 2 Discover cards. I just called Discover to re-allocate my credit lines to take advantage of the 0% APR for 12 months. Being transferred to a manager and DONE! Instantaneously updated online.
alextan said: I have 2 Discover cards. I just called Discover to re-allocate my credit lines to take advantage of the 0% APR for 12 months. Being transferred to a manager and DONE! Instantaneously updated online.
mhudson said: alextan said: I have 2 Discover cards. I just called Discover to re-allocate my credit lines to take advantage of the 0% APR for 12 months. Being transferred to a manager and DONE! Instantaneously updated online.
alextan
This seems to be so hit or miss.
Agreed...I was able to do this during a callback on a new account application from Discover, but tried to do it today in talking with a CSR upon activating my card, and she sounded like I was speaking a foreign language. Maybe getting transferred to a manager is a good idea. It can definitely be done at Discover, but it seems most normal CSR's don't have the ability to do it or maybe just don't know how. Some Discover reps can do it and don't mind....the guy who did it for me during the signup actually suggested it to me...I just wish I'd reallocated even more now !
BankofGreed said: No go on two BofA cards. I tried to relocate a portion of my CL from a legacy BofA card to a legacy MBNA card. CSR said no dice. Will try again later.
Yes try again. I've done this twice already for BT purposes, with the same type of cards you speak of.
BoA/MBNA- I have reallocated between MBNA (now BoA) Platinum Plus and a BoA Rewards Visa to take advantage of a 0% BT.
I just received a Citi Professional, so I guess I will try much luck on reallocating between the Dividend, Professional, and Diamond Preferred and see what happens.
vdadlani219 said: BoA/MBNA- I have reallocated between MBNA (now BoA) Platinum Plus and a BoA Rewards Visa to take advantage of a 0% BT.
I just received a Citi Professional, so I guess I will try much luck on reallocating between the Dividend, Professional, and Diamond Preferred and see what happens.
I can tell you what's going to happen. They're not going to let you reallocate the Professional. If you want to do it, you'll have to convert it to another card. I've gotten CSR to put in a reallocation from Professional, but regardless, it will not go through.
JohnGalt69 said: vdadlani219 said: BoA/MBNA- I have reallocated between MBNA (now BoA) Platinum Plus and a BoA Rewards Visa to take advantage of a 0% BT.
I just received a Citi Professional, so I guess I will try much luck on reallocating between the Dividend, Professional, and Diamond Preferred and see what happens.
I can tell you what's going to happen. They're not going to let you reallocate the Professional. If you want to do it, you'll have to convert it to another card. I've gotten CSR to put in a reallocation from Professional, but regardless, it will not go through.
Does "converting" require a new application (and thus a hard pull)? Did you convert to a personal or business card?
JohnGalt69 said: vdadlani219 said: BoA/MBNA- I have reallocated between MBNA (now BoA) Platinum Plus and a BoA Rewards Visa to take advantage of a 0% BT.
I just received a Citi Professional, so I guess I will try much luck on reallocating between the Dividend, Professional, and Diamond Preferred and see what happens.
I can tell you what's going to happen. They're not going to let you reallocate the Professional. If you want to do it, you'll have to convert it to another card. I've gotten CSR to put in a reallocation from Professional, but regardless, it will not go through.
I just reallocated 35k TO my Professional from my Diamond Preferred. Of course, I went through probably 6-7 different CSRs over a period of several weeks that told me it couldn't be done. Finally the last one said it might work, as they made some recent change to allow this in 'some cases'. She gave it a try and 24-48 hours later I saw the change. She seemed to indicate that they can never be sure it'll go through until they submit it. It made me wonder if some individual criteria (like account history, etc.) is used, but who knows.
I am on hold with Discover again. I have talked to a CSR than a credit increase person and now waiting for a supervisor. They are telling me they need to request a CLI. I have tried to explain I just want to move from one line to the other but not getting anywhere. I must not know the secret password.
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