Chase reportedly ends credit card line transfers. Edit: "product trades" seem dead too. Please add updates

accfw said: Credit line transfer success!

I have two personal cards with Chase. I wanted to re-allocate credit, but after reading this thread I was dicouraged so I decided to just call and ask for a CLI instead. The CSR said the automated credit system approved me for a part of the requested amount and asked if I'm happy with that. I told her no and that I'd like the full amount that I requested, so she transferred me to an analyst. The analyst said that they could not approve me for the full amount, but that he would be happy to transfer any portion of the available credit from my other Chase card to this one. So in addition to the increase, I got to transfer credit as a "compromise" for them not being able to extend more credit to me.Now that is awesome news! Thanks for reporting! Now I wish someone could find a way I can move some of my $90k of family business credit lines over to the personal side so I can get some 0% offers! They do send 0% offers for the business cards with checks, but there is no BT fee cap and the term is only 6 months always.

Also, MikeR, unfortunately even before this new policy, I don't think Chase EVER allowed one to consolidate credit limits from biz to personal. It has always been Per -> Per or Per -> Biz or Biz -> Biz. That is all.Agreed. You must have read Ipecac's post in Mike's business credit thread.

accfw said: Credit line transfer success!

I have two personal cards with Chase. I wanted to re-allocate credit, but after reading this thread I was dicouraged so I decided to just call and ask for a CLI instead. The CSR said the automated credit system approved me for a part of the requested amount and asked if I'm happy with that. I told her no and that I'd like the full amount that I requested, so she transferred me to an analyst. The analyst said that they could not approve me for the full amount, but that he would be happy to transfer any portion of the available credit from my other Chase card to this one. So in addition to the increase, I got to transfer credit as a "compromise" for them not being able to extend more credit to me.

That is very similar to my experience, minus the actual increase in total exposure, but successful CLR through requesting CLI.
link

thanks for the datapoint.

jackcrawfish said: Although a bit suspect, jameshasty reported the following:

he/she said: I requested a CLI on the Disney card and was declined. I then asked the representative to consolidate my inactive cards into the Disney card but he said he could not do it. I asked for a supervisor who could not help me but suggested that the lending department might be able to help. Here is what they did for me in the lending department:

Existing Cards (before AOR 4.0)

GM Business Card - $500 limit - moved to Disney Card - account closed
First USA Card - $9,800 limit - moved to Disney Card - account closed
Chase Freedom Card - $1,200 limit - unchanged
WAMU Business Card - $7,813 limit - moved to Disney Card - account closed
WAMU personal card - $2,764 limit - moved to Disney card - account closedTake it for face value.

I'd really love to see more data points like this one...anyone?

For the record I did this on Saturday 10/3/09.

It is very important to request a CLI on the new card. If the primary reason for the denial is "the amount of existing credit with Chase", talk to the lending department. They will work with you to get the lines moved over. Don't bother asking a CS rep or even a supervisor to do this. Only the lending department can help you with this request.

Now if someone can tell me how to get Chase to fork over some 0% BT checks I will really be in business.

Any recent data reports on product trades or reallocations with Chase? TIA

Existing Cards:

CARD                  Open   InitialLine  Current Line
CHASE HOME            2007   1000         500
CHASE Sony            2007   13000        7000
CHASE (WAMU)          2007   9000         500
CHASE Rewards (WAMU)  2008   3000         500
CHASE Perfect         2008   1000         500

CHASE BIZ             2007   14800        0
CHASE BIZ             2008   15000        29800


CHASE OptXPrss  11/24/2009   5000         5000

I applied on 11/05/2009 for the OptionsXpress card.

I called 11/25/2009 to discover that I was approved for $5000 (via pulling $6000 credit from my existing CHASE Sony card).

I spoke with a rep and requested a CLI on the new card...DENIED completely (not even a partial approval of my CLI request).

I requested a supervisor and was told there are no longer any card consolidations effective June 11, 2009. Supervisor told me to try again in 6 months. I politely asked Supervisor for the lending department so that they might be able to review my request for credit line consolidation. Was told that there are no departments able to grant my request.

I called back 3 more times (to differing numbers found in the app status thread.

The result was the same for me...

no dice on my consolidation attempts.

Thanks for the data point jackcrawfish. Your experience isn't encouraging. Anyone else had better results?

Ms. DH has a $30K WaMu card with no rewards...I'd love to suggest it as her daily spender, but my first call to chase to try to add a rewards program on it was a complete bust.

peteypablo said: This experience of jackcrawfish suggests to me that it might work better to preemptively cut credit lines before applying. I know SIS thinks it's a no-no, but I find myself wondering if jackcrawfish would have received a $5K limit if his only other limits with Chase totalled $10K.SIS and I agree completely on this, as we've detailed in other threads. No offense intended of course--your "wondering" is completely understandable. Alas, AFAIK it's completely unsupported by any evidence, and in the absence of such evidence it's akin to "wishful thinking".

I attempted to reach the credit department several times (by trying the numbers in the app status thread).

Does anyone have a direct number to the credit department people can call?

jackcrawfish said: I attempted to reach the credit department several times (by trying the numbers in the app status thread).

Does anyone have a direct number to the credit department people can call?

Just call CS and ask the rep or supervisor (if the rep isn't helpful) to connect you to the credit dept.

jameshasty said: okwiater said: Be careful with the credit department. When I talked to them, they proactively slashed my lines on other Chase cards, including ones I wasn't asking about.

If you already applied for a card and got denied for a CLI without having your lines cut I wouldn't worry about the credit department. If they were going to cut your lines they would have already done so.Despite being approved for a small $5000 line by shifting credit from one of my open CHASE lines, they decided to close all of my CHASE cards (including the biz account).

Letters arrived Monday (12/7/2009).

more details

jameshasty said: ...Experience and hindsight are always the best teachers.Amen.

which is why threads like this exist...

ProfessorEd said: jameshasty said: okwiater said: Be careful with the credit department. When I talked to them, they proactively slashed my lines on other Chase cards, including ones I wasn't asking about.

If you already applied for a card and got denied for a CLI without having your lines cut I wouldn't worry about the credit department. If they were going to cut your lines they would have already done so.

Acting on the above advice, I called after a rejection for the new BA card and found they were willing to reallocate from a little unused business card to permit opening the new card. I got the impression this was only possible in conjunction with a new card and there was a time limit for doing in based on when they would no longer consider the credit report they had pulled as up to date.

Someone getting a new card (or rejected for one) might consider this as a way to get reallocations in the direction they wanted (possibly from business to personal, or from a fee card (they expected to eventually drop) to a no-fee card they might plan on retaining, or from a card with an unattractive rewards program or no rewards program. for instance, if a new card would show up on credit reports and a business one would not, one might ask for a reallocation towards the new card even if the higher line was not really necessary for the planned spending on the new card.

I would agree that time is not on your side. The faster you get your card, ask for a CLI, and ask the credit department to reallocate the better. If they pull your credit again becasue enough time has passed and see all of the other cards in your AOR good luck!

Good info.

When I applied for the British Air card, chase said I was at their max exposure and
Chase gave me the opportunity to select which cards (biz or personal) I wanted to move credit line from to get the new card. They did end up taking off 16k more CL than I was given, but it was interesting to see how flexible they were in both the amounts to reallocate, and from which cards.

Chyvan said: My Personal Banker shared htis very recent memo with me.

Customers Can Again Combine Credit Cards; Select Products Eligible
Published on December 11, 2009

Several months ago, a change to the credit card policy no longer allowed customers with multiple credit cards to consolidate their credit lines onto one card. Starting December 10, this policy has been updated to allow consumer customers to once again combine cards; however, credit lines may only be consolidated onto select credit cards.


Customers can now request to combine lines from any Chase-branded or partner credit card onto any of the following products: Chase Sapphire, Chase Sapphire Preferred, British Airways, Continental, IHG, Marriott, Southwest and United Airlines credit cards.

If customers want to consolidate credit lines, call Banker Support at (866) 373-3991, option 8. Customers can also call the phone number of the back of their card.

 

All States - Branches

Good to know. Do any of these cards other than the Sapphire not have an annual fee? Which would be best to convert to? The Sapphire seems to have a mediocre point program - doesn't measure up to the Schwab.

Since this thread seems relevant to my situation, I'll ask for advice here rather than posting a new topic. Hopefully some of you credit gurus can point me in the right direction.

I was approved a few days ago for a Chase Freedom card with a CL of $2000, which will be inconvenient for my intended usage ($1000+ per month, paid in full every month) due to FICO penalties for high % utilization.

In the current economic climate, is it insane to ask for a CLI on a card I was just approved for? Should I expect automatic failure? Would it be helpful to mention fairly large liquid assets in checking/savings (~$50K - unusual for someone with my relatively low HHI)?

If I request a CLI, is Chase likely to require another hard pull (they pulled Equifax 2-3 days ago)?

I also have a very old Chase Visa (recently converted to Slate) that I want to keep open. If a CLI isn't in the offing, I thought I might try to get them to convert this old account to a Chase Freedom (assuming the tradeline will be reported the same way to Equifax etc.) and transfer the $2000 CL from the new account to the old account, closing out the new account. Is this something that Chase might be amenable to in these times? Might it be better, from the standpoint of credit scores, to go ahead and keep both accounts open (I have very few CC at the moment)?

Thanks in advanced for any help you can give me.

Svipdag said: Since this thread seems relevant to my situation, I'll ask for advice here rather than posting a new topic. Hopefully some of you credit gurus can point me in the right direction.

I was approved a few days ago for a Chase Freedom card with a CL of $2000, which will be inconvenient for my intended usage ($1000+ per month, paid in full every month) due to FICO penalties for high % utilization.

In the current economic climate, is it insane to ask for a CLI on a card I was just approved for? Should I expect automatic failure? Would it be helpful to mention fairly large liquid assets in checking/savings (~$50K - unusual for someone with my relatively low HHI)?

If I request a CLI, is Chase likely to require another hard pull (they pulled Equifax 2-3 days ago)?

I also have a very old Chase Visa (recently converted to Slate) that I want to keep open. If a CLI isn't in the offing, I thought I might try to get them to convert this old account to a Chase Freedom (assuming the tradeline will be reported the same way to Equifax etc.) and transfer the $2000 CL from the new account to the old account, closing out the new account. Is this something that Chase might be amenable to in these times? Might it be better, from the standpoint of credit scores, to go ahead and keep both accounts open (I have very few CC at the moment)?

Thanks in advanced for any help you can give me.

Is the $50K in a chase acct? If so, then you can use that for leverage for sure, and they should give you a higher credit line as a result. If not, then no, it is not insane to ask for CLI at approval. When you call to activate, ask to speak with a credit analyst. Be honest and explain why you need a higher limit. Once you explain that, see what they do (they may need another hard). If they still say no, then ask if you could move part of the CL from the old Slate to the new Freedom. What is you CL on the Slate? Also, IMHO, since you do not have that many CC trade lines, I definitely think it is a good plan to now keep both CCs open. Even if the old one looses some of its limit, LEAVE it OPEN.

Hope that helps and good luck and let us know how it goes. Thanks.

SuperG03

Chyvan said: My Personal Banker shared htis very recent memo with me.

Customers Can Again Combine Credit Cards; Select Products Eligible
Published on December 11, 2009

Several months ago, a change to the credit card policy no longer allowed customers with multiple credit cards to consolidate their credit lines onto one card. Starting December 10, this policy has been updated to allow consumer customers to once again combine cards; however, credit lines may only be consolidated onto select credit cards.


Customers can now request to combine lines from any Chase-branded or partner credit card onto any of the following products: Chase Sapphire, Chase Sapphire Preferred, British Airways, Continental, IHG, Marriott, Southwest and United Airlines credit cards.

If customers want to consolidate credit lines, call Banker Support at (866) 373-3991, option 8. Customers can also call the phone number of the back of their card.

 

All States - Branches

Called today, rep. said BOTH cards need to be one of Chase Sapphire, Chase Sapphire Preferred, British Airways, Continental, IHG, Marriott, Southwest and United Airlines in order to do a combination.

I tried to consolidate my BA Card onto my Sapphire Card and it would not go through. The rule seemed to be programed into the computer, although I may try later with a different representative.

The goal was to eliminate the BA card fee by closing the card, and yet preserve the credit line.

any recent updates from anyone regarding CHASE reallocation?

ChyVan was the last one to provide anything meaningful to this thread/...