I have several Chase credit cards, and I recently experienced something that I want to share. It was a very easy process, and I think it can be useful for others in a similar situation.
Chase logo thanks to Flickr
In my case, I had the British Airways Visa that I got primarily for the 100,000 mile sign up bonus that I am using for a trip on Cathay Pacific. I don’t intend to keep it long enough to pay the annual fee. I also recently signed up for the Chase Sapphire Preferred. This card is currently the card of choice for many miles/points junkies, due to its 50,000 point sign up bonus, plus double points for purchases that include travel and dining.
I had a high credit line with the BA card, but, it was much lower with the Sapphire. I haven’t really used the BA card since I met the spending requirements, I plan to keep the Sapphire card longer term. One part of good credit is to have low credit utilization. If I would cancel my BA card, my credit availability would go down quite a bit.
Moving Credit Limits on Chase Cards
I wanted to move my credit limits between cards to move most of my credit from BA to Sapphire. I sent a secure message on the Chase website to accomplish this. It was quite easy. I learned of a few options: full credit line consolidation and partial line consolidation.
I am unable to combine any balances that are currently on your accounts, however, you may request a credit line consolidation.
During a full line consolidation, one account will be closed and its credit line amount will be added to the credit line of the remaining open account. During a partial line consolidation, one account will be reduced by a portion of its credit line and that amount will be added to the other account number.
For an account to be eligible for line consolidation, the following set of conditions must be met:
– Both accounts must be open at the time of the request. An open account cannot be consolidated with a closed account.
– Neither account can be over limit or past due.
– To consolidate an entire credit line, the account to be closed must have a zero balance and no activity for at least three months. The account that is to be closed will
have its credit line decreased to zero.
– The entire existing credit line of the closed account must be added to the existing credit line of the remaining account.
– If the account you intend to close has had activity within the last three months you will have the option to move a partial credit line amount if the account meets the
I would like to confirm that a full line consolidation of your accounts is available. You have to option to transfer up to $ XXXX of credit line from your British Airways
account to your Sapphire account.
Please reply to this email with amount you wish to consolidate and me or one of my colleagues will be happy to assist you.
If you have any further questions, please reply using the Secure Message Center.
I decided to do the partial consolidation and to move most of my credit over, and to keep the BA account open for now, just to keep my options open.
No credit pull
One other point of interest is that there is no credit pull during this process.
I am glad to inform you that, there is no sort of pull on your credit history. Hence, I have processed your request to consolidate the credit lines on your accounts ending in XXXX and XXXX
This all was completed in less than an hour via the Secure Message center on the Chase website. It’s an easy way to manage the credit limits on your Chase cards.
Note: This post is to make readers aware of some options with their Chase accounts. There may be Chase banner ads in this post, but I do NOT receive any incentive for you to sign up via those ads.