- Centurion Member
- Posts: 4047
- Joined: Thu May 08, 2014 7:42 pm
- Location: United States
I pay my cards off every 7-10 days or so, mostly because I want to review all my activity. The only card on which I have utilization concerns is my Freedom ($2k CL). I've thought about moving some of the CL (maybe $2k) over from CSP ($7.5k), and I may do so if I don't get an auto-CLI on Freedom in the next month or two.
I'm not sure how rational/accurate it is, but my reasoning is that Chase (known for usually only giving auto-CLIs on healthy accounts after a year or two, if then) might be more likely to auto-CLI me while the Freedom limit is still one of my lower ones. A $2k Freedom may get a CLI more easily than a $4k one.
Freedom started 11/13 (my first card) with $600. In June or July I did get the CL up to $2k by a HP. I think they were just matching Discover's CL, my only other card with a fixed CL at the time.
Maybe I should just move it now, since $5.5k would be enough for me on the CSP. I'm not sure if that would be considered AA and make other issuers concerned, since the CSP limit would be falling from $7.5k to $5.5k.
The only reason I favor using my Freedom over my CSP for off-category stuff is that I still am earning the 10% point bonus. Once that does away, the CSP may replace Freedom for everyday things.
I think that if I were to try to get total limits that were 10x my monthly spending, I'd have to resort to opening a lot of cards that would only serve as "utilization buffers" and be an inconvenience. If I have 40% utilization report on my Freedom ($800 of $2000), and 8% overall utilization ($2k of about $25k), I'm not sure how much it would help to get my total CLs up to have lower overall utilization. The focus should be on getting the Freedom's utilization lower. So far, I've been doing that by paying Freedom off frequently.
Very useful: SchwabPlat, CSP, IHG, Costco (was AA Plat), Freedom, SPG
Somewhat useful: Discover, ED (was EDP), BCE, Hyatt, Arrival
May close or PC: Prestige, BrooksBros
Might add: Proper business card, CSR, Ritz, Delta Gold, First Tech