What to do with my Chase Line of Credit

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MrMosby
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What to do with my Chase Line of Credit

Postby MrMosby » Mon Jun 15, 2015 3:24 pm

Ugh, right now the largest amount of my credit is on Chase (makes sense because I also have my mortgage there so they have my house as collateral). A total of $72,000 of credit available.

However, I do all of my travel spend with Delta, Hilton, and Starwood - and since my work card is an Amex Green Card and I spend a lot of money at Whole Foods Membership Rewards makes a lot of sense as well.

So my primary spend is on my Amex EDP card, or my Citi HHonors reserve when Amex isn't accepted.

So My Hyatt and Ritz-Carlton reward cards make absolutely no sense to have anymore. I don't want to just whole sale close them, but I'm not sure what I should do - my gut is leaning towards just getting a CSP card so I can get the signup bonus and transfer the credit limit there, or maybe even an Amazon card (I only spent $3000 there last year, but it would have been $90 cash back with no annual fee).

Anyone have any other thoughts?
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K


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lobbythis
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Re: What to do with my Chase Line of Credit

Postby lobbythis » Mon Jun 15, 2015 8:35 pm

Apply for CSP and convert $74,000 to it.

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obxfisherman
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Re: What to do with my Chase Line of Credit

Postby obxfisherman » Mon Jun 15, 2015 10:33 pm

Yes the CSP seems like a logical choice here and then just transfer CL over there.

The Amazon Card may work out well for you, due to no AF...you'll just have to decide internally if the AF for CSP is worth it to you... If you have the Ritz Card currently, the CSP will seem like a Dollar menu item lol AF wise...both choices are good...personally i'd probably do the CSP, but I see the logic for the Amazon, the sign up bonus is pretty sweet IMO.
Cards Currently In My Wallet(See Avatar)
Chase Marriott Rewards Visa Signature (Daily Purchase): 13.4K
NFCU Visa SignatureCash Rewards: 5K
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CarefulBuilder14
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Re: What to do with my Chase Line of Credit

Postby CarefulBuilder14 » Tue Jun 16, 2015 1:47 am

I can understand wanting the CSP bonus, but it seems kind of out of place when you have Amex Platinum for perks, earn lots of MRs already, and don't use the UR transfer partners.
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takeshi
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Re: What to do with my Chase Line of Credit

Postby takeshi » Tue Jun 16, 2015 10:18 am

MrMosby wrote:Ugh, right now the largest amount of my credit is on Chase (makes sense because I also have my mortgage there so they have my house as collateral). A total of $72,000 of credit available.

My largest amount of credit is with Chase and I don't have a mortgage with them.

If you're focusing on MR it may not make split up spend with UR as well but you'd have to run the numbers for your spend to see. If you have no use for your Chase cards are you just looking to keep the available credit to keep utilization low? Amazon is no AF but 3% isn't all that great with the 5% options out there.

MrMosby
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Re: What to do with my Chase Line of Credit

Postby MrMosby » Tue Jun 16, 2015 1:17 pm

I guess the big thing it may get me is a backup card with no FTF and Primary Rental Coverage, but that's about it.
Everyday Preferred $45K | Amex Platinum NPSL | Citi Hilton HHonors Reserve $45K | Delta Platinum $30K | Chase Sapphire Preferred $64K | Citi Hilton HHonors $45K | Discover IT $25K



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