Shifting funds with Chase

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rockyrock
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Shifting funds with Chase

Postby rockyrock » Sun Apr 20, 2014 9:11 am

Chase is offering a pretty good BT promotion to me right now; 0% until 06/2015 with only a 1% fee.

My CSP has a $25k limit and Marriott $12k. Both have an essentially zero balance right now. The promotion is for my Marriott.

Has anyone had personal experience shifting limits with Chase? I would like to shift $20k to my Marriott so I can take advantage of this promotion and not have a sky high utilization ratio.
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thom02099
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Postby thom02099 » Sun Apr 20, 2014 9:41 am

rockyrock wrote:Chase is offering a pretty good BT promotion to me right now; 0% until 06/2015 with only a 1% fee.

[color="red"]My CSP has a $25k limit and Marriott $12k. Both have an essentially zero balance right now.[/color] The promotion is for my Marriott.

Has anyone had personal experience shifting limits with Chase? [color="red"]I would like to shift $20k to my Marriott so I can take advantage of this promotion and not have a sky high utilization ratio[/color].


Guess I'm thick this morning and need more coffee! Not quite following what your question is.

I'm reading it that you have the CSP with a $25K CL and the Marriott with a $12K CL. You're carrying "essentially zero balance" right now. Correct?

So if you have no balance to speak of, not clear why you would need to take advantage of a BT offer? Do you have another card that you want to transfer a balance FROM, TO the Marriott card? Not clear about what you mean about the "sky high utilization ratio". Do you have an amount that you want to transfer from another card that would put your utilization in that "sky high" range?

If you're talking about shifting credit limits from one card to another, there's plenty of threads, some recent, about doing this within Chase. If you're saying you want to move $20K from your CSP CL, apply it to the Marriott, giving you a new CL on the Marriott of $32K, and leaving a $5K CL on your CSP, you can do that with no problems. THEN if you need to do a BT FROM another card TO the Marriott card that has that big CL, you should also be able to do that as well.
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rockyrock
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Postby rockyrock » Mon Apr 21, 2014 12:18 am

thom02099 wrote: If you're saying you want to move $20K from your CSP CL, apply it to the Marriott, giving you a new CL on the Marriott of $32K, and leaving a $5K CL on your CSP, you can do that with no problems. THEN if you need to do a BT FROM another card TO the Marriott card that has that big CL, you should also be able to do that as well.


This is essentially what I would like to do. I have a few big purchases in the next month and I'd like to consolidate using the BT. I don't want my utilization on any one card to exceed 50%...
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thom02099
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Postby thom02099 » Mon Apr 21, 2014 8:57 am

rockyrock wrote:This is essentially what I would like to do. I have a few big purchases in the next month and I'd like to consolidate using the BT. I don't want my utilization on any one card to exceed 50%...


OK...so you're going to make the big purchases with other card(s), then do a BT of the amount(s) on those/that card(s) to the Marriott card, after you've done the CL movements from the CSP card to the Marriott card, eh? Should be doable!
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rockyrock
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Postby rockyrock » Tue Apr 22, 2014 8:15 am

thom02099 wrote:OK...so you're going to make the big purchases with other card(s), then do a BT of the amount(s) on those/that card(s) to the Marriott card, after you've done the CL movements from the CSP card to the Marriott card, eh? Should be doable!


You got it!

What do you think of your Lowes card? I shop there often but never really considered getting the card. Right now I'm using my Discover but the rest of the year I have no card that will pay more than 1%.

Thanks
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takeshi
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Postby takeshi » Tue Apr 22, 2014 8:36 am

rockyrock wrote:Has anyone had personal experience shifting limits with Chase?

Done it several times. As long as it's not between business and personal you're good to go.

thom02099
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Postby thom02099 » Tue Apr 22, 2014 9:00 am

rockyrock wrote:You got it!

[color="red"]What do you think of your Lowes card?[/color] I shop there often but never really considered getting the card. Right now I'm using my Discover but the rest of the year I have no card that will pay more than 1%.

Thanks


The Lowes card, along with Home Depot, were among the first of the credit cards I got, when transitioning from using debit card/cash/check for expenses. It's been a good card for me, served a purpose at the time I got it, and they've been very generous with CLI over the years. I liked the fact that they carried Samsung appliances, one of the first retailers to do so at the time, and I purchased a package of kitchen appliances from them using one of their promos (0% interest for 24 months), so bought over $5000 worth of appliances. Paid it off quickly, have used it a few more times. I use it now mainly in the spring when I need household and garden items -- bought a new gas grill last year, it was over $299, so got another deal on the purchase (0% for 12 months). I've also bought a lawn mower from them the same way and bedding plants for a garden. I like their selection, it's more or less a toss up as to whether I go to Lowes or Home Depot. I usually shop both and compare.
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