Chase Now Lets You Reallocate Credit During New Card Application
When applying for a new credit card, you could sometimes come into issues if you reach a certain maximum credit limit with that institution. The solution is often to reallocate credit between your existing credit cards, in order to have enough left for your new card. But this whole process normally requires you to call in and talk to a representative.
Now Chase has made the whole thing much easier. When applying for a new Chase credit card, you will have the option to move credit around in order to have enough for the new Chase credit card you’re applying for.
A redditor says that this option showed up at the end of the application. He completed the application and received an email saying that he’ll be notified by mail regarding his application. Then immediately the application redirected to a page that let him reallocate credit between his existing credit cards, in order to open the new card.
Doctor of Credit reports that customers that meet a certain criteria will be presented with this option. It’s not clear what criteria this would be, but maybe it’s just existing cardholders that already have a very high credit line with Chase.
This seems like a great option that makes it easier for the customer to get approved and clearly see the options for reallocating credit. It’s also better for Chase as they don’t have to deal with all the additional calls to their reconsideration department.