Author Topic: Chase low limit - Is cycling ok with Ink  (Read 1615 times)

Offline rebeccag

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Chase low limit - Is cycling ok with Ink
« on: November 20, 2020, 10:11:39 PM »
I received an Ink with a limit of $3k. The first bill is due Jan 8. I need to spend $7500 in 3 months to received the bonus. I'm really perplexed as to how to do this without cycling. I have another Chase card with double that limit and then some. Very perplexed. Thoughts?

Offline BarryLincoln

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Re: Chase low limit - Is cycling ok with Ink
« Reply #1 on: November 22, 2020, 10:56:06 PM »
Cycling thru your line is a reason for shutdown.  Perhaps call and have some credit shifted over to your new card...

Offline Tomorrow

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Re: Chase low limit - Is cycling ok with Ink
« Reply #2 on: November 22, 2020, 11:22:05 PM »
I received an Ink with a limit of $3k. The first bill is due Jan 8. I need to spend $7500 in 3 months to received the bonus. I'm really perplexed as to how to do this without cycling. I have another Chase card with double that limit and then some. Very perplexed. Thoughts?

This: Don't cycle your credit, chase hates that.

call and have some credit shifted over to your new card...
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Offline CountValentine

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Re: Chase low limit - Is cycling ok with Ink
« Reply #3 on: November 22, 2020, 11:43:15 PM »
If you cycle once in the last month you should be ok.
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Offline helpusout

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Re: Chase low limit - Is cycling ok with Ink
« Reply #4 on: December 07, 2020, 11:48:01 AM »
I also have a low credit limit on the ink and have been cycling. Is it better if i prepay it before the expenses hit, or are both terrible.
Unfortunately I don't have enough credit to only utilize 30% of my credit limits, so I figured cycling on the Ink card is better since its a business card and doesnt show up on my credit report.
Opinions?

Offline justmeha

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Re: Chase low limit - Is cycling ok with Ink
« Reply #5 on: December 07, 2020, 12:09:22 PM »
I also have a low credit limit on the ink and have been cycling. Is it better if i prepay it before the expenses hit, or are both terrible.
Unfortunately I don't have enough credit to only utilize 30% of my credit limits, so I figured cycling on the Ink card is better since its a business card and doesnt show up on my credit report.
Opinions?
utilization will improve your credit score and cycling will hurt your relationship with Chase.

You just have to decide which one is more important to you

Offline grodnoking

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Re: Chase low limit - Is cycling ok with Ink
« Reply #6 on: December 07, 2020, 12:19:04 PM »


I also have a low credit limit on the ink and have been cycling. Is it better if i prepay it before the expenses hit, or are both terrible.
Unfortunately I don't have enough credit to only utilize 30% of my credit limits, so I figured cycling on the Ink card is better since its a business card and doesnt show up on my credit report.
Opinions?

Better to utilize more than 30% on your ink card as it doesnt effect your personal credit report, than to ruin your relationship with chase.
I'm not who you think I am.

Offline nescafe

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Re: Chase low limit - Is cycling ok with Ink
« Reply #7 on: December 07, 2020, 08:17:07 PM »
Is it possible to shift credit from personal to business?

Offline helpusout

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Re: Chase low limit - Is cycling ok with Ink
« Reply #8 on: December 08, 2020, 08:19:04 AM »



this is my only chase cc. my other 2 personal ones are with citi and capital one.. and they have 8k total which is only 2k if you are using 25 to 30% thats not enough for me.. I charge over 10k a month.
« Last Edit: December 08, 2020, 08:56:08 AM by helpusout »

Offline Samb

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Re: Chase low limit - Is cycling ok with Ink
« Reply #9 on: December 08, 2020, 09:21:25 AM »


this is my only chase cc. my other 2 personal ones are with citi and capital one.. and they have 8k total which is only 2k if you are using 25 to 30% thats not enough for me.. I charge over 10k a month.
Mostly only chase

Offline helpusout

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Re: Chase low limit - Is cycling ok with Ink
« Reply #10 on: December 08, 2020, 11:53:44 AM »

Offline justmeha

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Re: Chase low limit - Is cycling ok with Ink
« Reply #11 on: December 09, 2020, 12:57:05 AM »


this is my only chase cc. my other 2 personal ones are with citi and capital one.. and they have 8k total which is only 2k if you are using 25 to 30% thats not enough for me.. I charge over 10k a month.
if you can pay it before the statement closes then it dosent matter if you use all 8k. It won't affect you credit as long as your statement closes with low utilization.

Offline helpusout

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Re: Chase low limit - Is cycling ok with Ink
« Reply #12 on: December 10, 2020, 10:57:51 AM »
if you can pay it before the statement closes then it dosent matter if you use all 8k. It won't affect you credit as long as your statement closes with low utilization.

is that true?
I thought cycling was bad for your credit/ relationship with Chase.

Offline Shaya E

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Re: Chase low limit - Is cycling ok with Ink
« Reply #13 on: December 10, 2020, 11:38:00 AM »
is that true?
I thought cycling was bad for your credit/ relationship with Chase.

It's bad for your relationship with Chase. But it won't affect your credit.

Offline Shaya E

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Re: Chase low limit - Is cycling ok with Ink
« Reply #14 on: December 10, 2020, 11:39:48 AM »
And, using your full CL and then paying it before it closes isn't cycling. Cycling is reusing the credit after you pay it.

Offline Shaya E

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Re: Chase low limit - Is cycling ok with Ink
« Reply #15 on: December 10, 2020, 11:42:21 AM »
Also, specifically with Chase, you don't have to worry about it closing with too high of a utilitization. Chase reports whenever you pay up your balance, so as long as you pay it before applying for new credit it doesn't matter what it closed at .

Offline mmgfarb

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Re: Chase low limit - Is cycling ok with Ink
« Reply #16 on: December 10, 2020, 12:56:00 PM »
Also, specifically with Chase, you don't have to worry about it closing with too high of a utilitization. Chase reports whenever you pay up your balance, so as long as you pay it before applying for new credit it doesn't matter what it closed at .
Wrong. Having a high credit utilization will drop your score, often my a very large number. Once your report updates with a lower utilization ratio, you're score will start to go back up but it won't usually return to the same place it was before right away.
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Offline Yo ssi

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Re: Chase low limit - Is cycling ok with Ink
« Reply #17 on: December 11, 2020, 01:26:45 AM »
Wrong. Having a high credit utilization will drop your score,
+1
What your saying @Shaya E is similar to the $2 trick see the misc thread.

Offline Shaya E

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Re: Chase low limit - Is cycling ok with Ink
« Reply #18 on: December 11, 2020, 01:30:16 AM »
Wrong. Having a high credit utilization will drop your score, often my a very large number. Once your report updates with a lower utilization ratio, you're score will start to go back up but it won't usually return to the same place it was before right away.

I stand corrected. And yes, that's the reason not to do the $2 trick with a chase card.

Offline Samb

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Re: Chase low limit - Is cycling ok with Ink
« Reply #19 on: December 11, 2020, 09:57:20 AM »
I stand corrected. And yes, that's the reason not to do the $2 trick with a chase card.
Plus 1. @Shaya E is correct. What you other guys are referring too is trending data which is not yet implemented in any Fico model.