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Question By
Jkieseling4

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Just opened a new cc to consolidate but didn't get the amount i was hoping, what should I do?
In my quest to Become debt-free I opened a new Chase Slate low interest credit card. I was hoping to get a $4000 credit limit, But only received a $2000 credit limit. I wanted to consolidate my two remaining credit cards both with a balance around $1800. What should my next step be? Should I transfer one card? And pay off the other? Or open Another low interest credit card??

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Top Contributor
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Transfer One card, call chase

You can try two options:

1. Call CHASE to see if they offer a credit limit increase. CHASE has an excellent team of credit analysts who can review your case and give you the decision. They often take many other factors into consideration, which, the automated system can't handle. Be patient, explain your situation and ask for a reasonable increase. If they have initially given you a 2K limit, you will most likely get a increase.

2. If you dont get increase, then TRANSFER ONE CARD at a time. Go for the one that has highest interest rate first. You can then pay one of the cards heavily (either Slate or the other card you have). Whatever you do, make sure you focus to decrease balance on ONE of the cards. Once you decrease the balances enough on whichever card you choose, then make another balance transfer to Slate. Chase Slate has 15 months 0% APR offer, which is huge!

Also, keep in mind that you do not have to transfer the ENTIRE balances to Slate at any given time. Do the math, use the calculators available online (and with Chase) to make the best decision. In any case, DO NOT RUN BALANCES AGAIN ON THE ACCOUNT THAT YOU TRANSFER TO SLATE! Also, do not use Slate for purchases.

Reply by
Jkieseling4

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I asked for an increase and got denied and I have transfered my highest interest credit card already.  Chase slate has a free balance transfers for the first 60 days. So I should I try to pay enough down on both that I'm able to transfer the second card on to the slate card before the 60days are up?

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