I applied for a Chase Sapphire credit card for the $100 sign up bonus, obviously. I have very good credit but I received a letter that I was rejected because I did not have enough income, which makes sense based on my income (which is another reason I sign up for credit cards in the first place).
I called their re-evaluation number (1-888-270-2127) and explained that I have been a Chase customer for many years and I have always paid on time. They said that doesn't really factor into their decision but there still is something they can do.
The Sapphire card needs a minimum of a $5,000 credit line. They said that I could transfer $5,000 of credit from other Chase cards and then open the new card. So, I transferred $4,500 from my Chase Freedom (leaving me with $5,000) and $500 from my Toys R Us card (leaving me with $900 on that card - but how much can you really spend at Toys R Us anyway).
They would have allowed me to close my British Airways card (50,000 point bonus with a $95 fee - only worth it for me because I will be traveling a lot next year) to get the last $500 of credit (only had a $500 limit on it) but since I had just opened it and I still need to make a purchase to get my rewards from that card I decided to not do that :)
So, if you are rejected for a credit card and you have other credit cards with the same company, call them up, they might be willing to transfer credit from one card onto another one.
I called their re-evaluation number (1-888-270-2127) and explained that I have been a Chase customer for many years and I have always paid on time. They said that doesn't really factor into their decision but there still is something they can do.
The Sapphire card needs a minimum of a $5,000 credit line. They said that I could transfer $5,000 of credit from other Chase cards and then open the new card. So, I transferred $4,500 from my Chase Freedom (leaving me with $5,000) and $500 from my Toys R Us card (leaving me with $900 on that card - but how much can you really spend at Toys R Us anyway).
They would have allowed me to close my British Airways card (50,000 point bonus with a $95 fee - only worth it for me because I will be traveling a lot next year) to get the last $500 of credit (only had a $500 limit on it) but since I had just opened it and I still need to make a purchase to get my rewards from that card I decided to not do that :)
So, if you are rejected for a credit card and you have other credit cards with the same company, call them up, they might be willing to transfer credit from one card onto another one.
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