Cancelling CSP

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pac4toon
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Cancelling CSP

Postby pac4toon » Thu Dec 18, 2014 3:57 pm

Hello! It's been a long while since I last posted here. Anyway, I've been bouncing around the idea of just cancelling my CSP and transferring my CL to my Freedom. Is that possible? The "metal" card has lost it's appeal and I haven't really been using it much. I've been using my AmEx BCE and Hawaiian Airlines WEMC on a daily basis. I am trying to weigh the pros and cons of letting go of the CSP. What's your take on it? I am not even sure if CHASE will transfer over my CL to my Freedom.

Thanks!
In my wallet:
AmEx PRG/ BoH Hawaiian Airlines WEMC / Chase Freedom /

In my sock drawer:
AmEx HHonors & BCE


popamode72
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Postby popamode72 » Thu Dec 18, 2014 4:25 pm

I'm pretty sure they can do that with no problem. Just send them a secured message about it.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

whit
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Postby whit » Thu Dec 18, 2014 6:35 pm

I would just call in,
when reps ask why you're closing it state that the fee is the cause, and since they will probably never ever give you the annual fee free past first year so

they'll just close it out and help you switch as much CL over as possible before closure

ingramjuan
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Postby ingramjuan » Thu Dec 18, 2014 9:02 pm

I think also a quick phone call to them maybe be able to fix the problem, especially if you have been a good customer for them. However keep in mind that your credit / debt utilization will change.
CARDS:
Capital One Platinum (2001) |Capital One QuickSilver World (2002) | Amex Gold Delta (2013) | Best Buy Visa (2013) |Discover It (2015) | Amex Platinum (2015)

Gardening Since: June, 2015

Next Cards:
Personal: Chase Freedom Unlimited
Business: Amex Plum
Store Card: Lowes

takeshi
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Postby takeshi » Sat Dec 20, 2014 3:31 pm

pac4toon wrote:Anyway, I've been bouncing around the idea of just cancelling my CSP and transferring my CL to my Freedom. Is that possible?

Yup. People do this all the time with Chase.

pac4toon wrote:I am trying to weigh the pros and cons of letting go of the CSP. What's your take on it?

Like any card you have to look at how useful it is specifically to you. You can't rely on a generic pros/cons list.

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otter
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Postby otter » Sat Dec 20, 2014 3:42 pm

Yeah, Chase is the easiest company I've seen when it comes to moving limits around.
In my Wallet:
  • Amex PRG NPSL[3-14, bd 91]
  • Sallie Mae MC $8000[1-14]
  • Chase Freedom $4700[1-14]
  • Discover It $2750[8-13]
  • BoA UCF Alumni Cash Rewards $5000 [3-15]
Sometimes in my Wallet:
  • GM BuyPower WEMC $5000[9-14]
  • Wells Fargo Propel 365 Amex $7000[4-14]
  • Barclaycard Arrival WEMC $7000[3-14]
  • BoA Better Balance $3000[2-15]
In my sockdrawer: Amex BCE $1000[10-13, bd 91], OCCU Duck $10000 [11-13], The Sportsman's Guide Visa $8000[8-14], Chase Slate $4000 [9-14]Delta Gold Amex $2000 [2-15 bd 91], Diners Club MC $20000 [10-14] Commerce Bank Visa $2000 [3-15] Citi Double Cash $1000 [3-15]
Total CL: $90450

jojo
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Postby jojo » Sat Dec 27, 2014 9:33 pm

After the 40,000 point welcome bonus, the CSP has lost its appeal for me as well. I don't eat out as much as I used to, so I'm not getting the bonus points on restaurants. I travel about once a month, so the bonus points help defray the annual fee, but barely. I'm kicking around the idea of transferring my points to my United MileagePlus account to get rewards travel. If that doesn't work out, the CSP will be on the chopping block next year.

marzbarz
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Postby marzbarz » Wed Dec 31, 2014 10:35 am

Yes it is possible, I made the same exact request to Chase and it was not a problem at all. The CSP is a great card, and part of me wishes I would have kept my open, if paired with the Freedom, both cards can really rack up a good amount of UR points.
AMEX Blue Cash: $23,500
CITI Doublecash (World Elite MC): $11,200
CAPONE Quicksilver (VISA Signature): $12,500
CHASE Freedom (VISA Signature): $20,000
USAA Rewards (World MC): $13,500
USAA Rewards (VISA): $18,500

popamode72
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Postby popamode72 » Wed Dec 31, 2014 10:50 am

One major tip if you wanna be able to consolidate the entire CSP limit onto another card. Make sure the card hasn't had any activity for at least a month and they'll be able to do a full CL consolidation. If not, you can still transfer most of the limit except for $500 assuming there's no balance on the card already.
Macy's TLs (21k), Lowes (17k), CSP (10k), Sam's Club (10k), Nordstrom (5k), AARP (4.2k), Freedom (3k), Discover (1.5k), Quicksilver (2k), BoA (3k), Barclaycard Arrival (2.5k), Amazon Store (6k), Paypal (4.9k), Sam's Club MC (3.6k), Walmart MC (1.2k)

MB131174
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Postby MB131174 » Wed Dec 31, 2014 1:46 pm

popamode72 wrote:One major tip if you wanna be able to consolidate the entire CSP limit onto another card. Make sure the card hasn't had any activity for at least a month and they'll be able to do a full CL consolidation. If not, you can still transfer most of the limit except for $500 assuming there's no balance on the card already.


Almost true. I hadn't used my Marriott card for over 5 months and I still had to keep $500 on it when I transferred the credit line to another card. I closed it, but still, wasn't able to transfer the full line despite no use in almost half a year.
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