Freedom and CSP combine?

Discuss the Visa & MasterCard payment networks as well as cards that operate through them.
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ncosky290
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Freedom and CSP combine?

Postby ncosky290 » Wed Dec 18, 2013 11:35 am

I currently have a Freedom card with a 3.5k limit and a CSP card with the 5k limit. It is possible and or smart to have the limit from the freedom moved to the CSP and close out the freedom card?

Thanks
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-


cashback
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Postby cashback » Wed Dec 18, 2013 12:01 pm

No. Do not do that. Freedom earns 5x UR points and can be transferred to CSP, which will get better redemption values.
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

daniel2304
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Postby daniel2304 » Wed Dec 18, 2013 1:00 pm

cashback wrote:No. Do not do that. Freedom earns 5x UR points and can be transferred to CSP, which will get better redemption values.


Here is the wisdom ;)
All my posts are my opinions. All my posts mentioned "you" are merely for discussion-purpose only. No advice is given in any post at any time. It is also impossible for me to put effort to verify every statement that anyone has given.

MemberSince99
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Postby MemberSince99 » Wed Dec 18, 2013 4:21 pm

Agree. If it was say Slate, I'd say move it, but Freedom is another case, and I would keep both and use them together as cash suggested.

dickey1331
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Postby dickey1331 » Wed Dec 18, 2013 5:01 pm

You can do that but as others have said I wouldnt.
Platinum Delta Skymiles $12,900
Marriott Rewards Premier $12,000
Discover IT $12,000
USAA Cash Rewards $11,000
American Express Blue Cash Preferred $10,000
Chase Sapphire Preferred $6,500
Best Buy $6,000
Chase Freedom $4,500
Zales $4,000
Amazon Prime $4,000

PhoenixDown
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Postby PhoenixDown » Wed Dec 18, 2013 7:37 pm

+ 1 to the above. Try for a CLI now or down the road depending on what your report looks like and when you got these cards.

ncosky290
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Postby ncosky290 » Wed Dec 18, 2013 8:13 pm

I am not worried about a CLI... Just didn't see the point having both of the cards really but don't wanna loose the CL from the freedom I have now. Once my promo apr is up I will see if they can lower the standard APR as it is 22.99% and I refuse to have an APR that high so if they can't lower that then the CL will transfer to the CSP and the freedom will be closed. I can always apply again for one and get better terms after a year not having it i hear...
-AMERICAN EXPRESS DELTA GOLD SKYMILES - AMERICAN EXPRESS EVERYDAY -AMERICAN EXPRESS PLATINUM - CITI DOUBLE CASH - CITI PLATINUM AADVANTAGE - CITI THANK YOU PREFERRED - BARCLAYCARD ARRIVAL PLUS - DISCOVER IT - CHASE SAPPHIRE PREFERRED-

cashback
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Postby cashback » Wed Dec 18, 2013 8:44 pm

ncosky290 wrote:I am not worried about a CLI... Just didn't see the point having both of the cards really but don't wanna loose the CL from the freedom I have now. Once my promo apr is up I will see if they can lower the standard APR as it is 22.99% and I refuse to have an APR that high so if they can't lower that then the CL will transfer to the CSP and the freedom will be closed. I can always apply again for one and get better terms after a year not having it i hear...



Why do you care about the APR?
Credit Cards
Amex BCE 25K ---- PenFed Platinum Rewards 15.5K --- US Bank Cash+ 12K --- Discover IT 6K --- Citi Dividend 5K --- Chase Freedom 12.5K --- Amex SPG 6K --- Citi Thank You Preferred 15K

Not Used
Citi Simplicity - 5K, Sam's Club Discover - 10K

Future Cards
Sallie Mae World Mastercard

FICOs
Exp 772 - TU 781 - Equ 781

samhradh
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Postby samhradh » Thu Dec 19, 2013 12:12 am

ncosky290 wrote:Just didn't see the point having both of the cards really


The point is HUGE. Earn 5 points with the Freedom via bonus categories vs. a max of 2 points on the CSP. Keep both.
Citi Forward ($10.1K), AmEx Blue Cash Everyday ($30K), Chase Freedom ($12.4K), Discover it ($5.5K), Barclaycard Arrival ($12.5K), L.L. Bean Visa ($5K). FICO 806 (TU), 812 (EQ), 806 (EX).

fL1Pm0d3
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Postby fL1Pm0d3 » Thu Dec 19, 2013 7:49 am

cashback wrote:Why do you care about the APR?


I agree with you here. The APR should not really matter because of the points benefit.
Travel Perks: AMEX Platinum, SPG Amex ($16300), Chase Sapphire Preferred ($11600)
5% Rotating Cashback: Discover IT ($5800) , Chase Freedom Signature Visa ($10000)
Low APR Card (7.99%): CFCU ($5000)
Co-Branded Card: Barclays Apple Visa ($3800)


Future: BCP, Close Apple Visa and open Arrival



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