Can You Switch Credit Cards With a Current Issuer
Author: TallyHo
Posted: Fri Mar 17, 2006 11:45 am
Post subject: Switching among an issuer's cards
I have a Chase Platinum MC (got in in April 04) and I use it sparingly. I'd use it a lot more often if it had a cash back/rewards program. I see that the Chase Rewards Plus card has an attractive rewards program.
Can I just call Chase and ask them to switch me? Is this something they are likely to do? If so, will it require a hard credit check? I don't want that to happen, I just bought a house in January and applied for (and received) an AMEX Blue Cash last week.
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Author: Ira
Posted: Fri Mar 17, 2006 12:17 pm
Post subject:
They might, but you'll have to ask them. When you call ask all of your questions. Ask if they have to do a credit check.
BTW, if you've already bought your house why are you worried about possibly losing a few points due to an inquiry? You have more to gain by getting a credit card that does what you want than you would lose with an extra inquiry or two.
I'm constantly preaching this: do not become a credit score junkie. Especially in your case, your score going up or down a few points simply does not matter. There are so very many factors that go into scoring, most of which you have no control over, there's no point in trying to artificially influence your score.
If you use your credit responsibly and pay your bills on time, every time, you will have nothing to worry about. Personally I have no idea what my credit score is. It doesn't influence my life at all. I have many credit cards, yet I just applied for and received two more that I wanted very much because of their intro offers. What will this do to my score? Who cares?
I will repeat this over and over - score doesn't matter! That we are so frightened at not knowing our scores is almost totally due to the recent fantastic marketing campaigns by the CRAs. I'm really impressed with their advertising. It has conditioned us to spend money getting our scores whether we need them or not.
Think about it: ten years ago, before the hype began, credit scores were like Australia: everybody knew where they were, but nobody went there. Now one ad tells us that anybody who can't rattle off their credit score is an idiot. Think about it - why would you have to know your score before applying for a loan? The loaning institution isn't going to take your word for it anyway. The'll draw their own report, and the scoring algorithm for the report the banks get is different from consumer scoring. I just don't see the point.
Author: TallyHo
Posted: Fri Mar 17, 2006 12:28 pm
Post subject: point
Thanks Ira. I appreciate the quck adn insightful response. Ha, you have a good point. I guess what is occurring here is the fact that I used to have very bad credit, and when I set about fixing that I began watching it like a hawk. Old habits, I suppose.
Anyway, you're right. I have my house already, so I guess I can calm down about my scores.
Once I find out something from Chase I will post it here for the record in case anyone else wonders about this too.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Posted: Fri Mar 17, 2006 11:45 am
Post subject: Switching among an issuer's cards
I have a Chase Platinum MC (got in in April 04) and I use it sparingly. I'd use it a lot more often if it had a cash back/rewards program. I see that the Chase Rewards Plus card has an attractive rewards program.
Can I just call Chase and ask them to switch me? Is this something they are likely to do? If so, will it require a hard credit check? I don't want that to happen, I just bought a house in January and applied for (and received) an AMEX Blue Cash last week.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
Author: Ira
Posted: Fri Mar 17, 2006 12:17 pm
Post subject:
They might, but you'll have to ask them. When you call ask all of your questions. Ask if they have to do a credit check.
BTW, if you've already bought your house why are you worried about possibly losing a few points due to an inquiry? You have more to gain by getting a credit card that does what you want than you would lose with an extra inquiry or two.
I'm constantly preaching this: do not become a credit score junkie. Especially in your case, your score going up or down a few points simply does not matter. There are so very many factors that go into scoring, most of which you have no control over, there's no point in trying to artificially influence your score.
If you use your credit responsibly and pay your bills on time, every time, you will have nothing to worry about. Personally I have no idea what my credit score is. It doesn't influence my life at all. I have many credit cards, yet I just applied for and received two more that I wanted very much because of their intro offers. What will this do to my score? Who cares?
I will repeat this over and over - score doesn't matter! That we are so frightened at not knowing our scores is almost totally due to the recent fantastic marketing campaigns by the CRAs. I'm really impressed with their advertising. It has conditioned us to spend money getting our scores whether we need them or not.
Think about it: ten years ago, before the hype began, credit scores were like Australia: everybody knew where they were, but nobody went there. Now one ad tells us that anybody who can't rattle off their credit score is an idiot. Think about it - why would you have to know your score before applying for a loan? The loaning institution isn't going to take your word for it anyway. The'll draw their own report, and the scoring algorithm for the report the banks get is different from consumer scoring. I just don't see the point.
Author: TallyHo
Posted: Fri Mar 17, 2006 12:28 pm
Post subject: point
Thanks Ira. I appreciate the quck adn insightful response. Ha, you have a good point. I guess what is occurring here is the fact that I used to have very bad credit, and when I set about fixing that I began watching it like a hawk. Old habits, I suppose.
Anyway, you're right. I have my house already, so I guess I can calm down about my scores.
Once I find out something from Chase I will post it here for the record in case anyone else wonders about this too.
CardRatings.com is the most comprehensive source for comparing credit card offers. Please visit CardRatings.com to view the best rated credit cards!
posted by CardRatings.com at 1:10 AM
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