pkoo

To add to my previous report on post #3433, I just received the rejection letter in the mail and the stated reason is "Too many credit cards opened in the last 2 years."

So it looks like the system does automatically flag anyone with an x amount of open accounts within the last 2 years like the CSR said.

RNE

Perhaps, but we don't know that the value of x is the same for every applicant. Anecdotally, it seems x is all over the place.

What I'd like to know: Are applications for high-fee, non-waived credit cards (e.g. United Club) also getting this rebuff? I suspect Chase doesn't care how many accounts you've opened if you're forking over big bucks for one of those babies.

Lumpylump76

To all the folks who has been denied due to too many recent accounts, was any of the denial on a non UR point earning card, that is not either CSP, Ink, or Freedom?

Maybe Chase is only hitting their own cards, and not co-branded cards?

johnnie198x

Maybe we should post the card we're applying for and the number of credit cards opened in the past 2 years?

MarkMColo

Summary: Applied for Fairmont card on 5/22, denied for number of new accounts opened in the past year.

Details: Applied on 5/22, called recon 5/28. Rep initially asked some questions to verify my identity and income, etc, then came back and asked what the reason was that I had 10 new accounts in the past year. I gave her the best answer that I could think of (applying for travel related cards - hotel and airline programs - to leverage my increased travel spend).

She put me on hold again and I actually thought she was going to approve me, but as the time dragged on, I knew otherwise. Sure enough, she came back and said they could not approve this card with all of the new accounts recently.

lotrbfme

wow this sucks... this is definately new as I applied for the Ink a month ago and I did not have any issues even with 15 inq in the last two years...

travelpye

Instant approval for SW RR card via targeted offer for 50K and $100 credit today . Last Chase card opened in Jan. 2015, Ritz personal card. I opened 4 cards last year, only one was with Chase.

I will get Companion Pass through this card, and today was last day to apply under targeted offer. This card will bring my total CL with them to right under 40k. My FICO is a bit over 800 and I do have a long credit history of over 40 years. Not sure how all those factors play into who is getting auto approved and who isn't. But to a question upthread re if denials are on UR earning cards, it seemed from my reading that was case with many recent denials reported here whereas some of the fairly recent approvals were on the nonUR cards. So it may be a factor or not. I leave it to others to read the tea leaves, just hoping to provide helpful data.

Brugge

Yes, but the "system" only sends the app to Recon, where you have a snowballs chance in hell of getting approved. Only one or two reports of an approval in the last week. And a report of a denial where the OP had a 815 Fico, a 6 figure income, and only one app in the past 6 months.

So getting approved by Chase isn't impossible right now, just very, very unlikely. If you are considering a Chase app, you have to ask yourself this question:

Do you feel lucky, punk, do you?

TMM1982

Some of you guys take this whole MS thing way too serious. It's a game, like any other. Sometimes you win, sometimes you lose.

Brugge, in another post somewhere, I remember you saying "I never lose." Well this time you did. Accept it, move on, life will still continue.

lkar

Wish I had read this thread. Very high credit score, no recent chase apps in six months, but two major app o ramas in the past. Shot down for 9 new cards in two years, which include business. Long time banking customers too. Called reconsideration twice and it was a brick wall, and they know about previous calls. Very rude. We threatened to close our banking accounts, and they didn't care. I think when we get the letter we will see if our banker can turn it around, but it was materially different from the two dozen or so prior account openings we have done.

RNE

As a lifelong systems analyst—and Martian lunar ferry pilot—I am all for data collection and analysis, but I think a less scientific approach may be in order now. To wit, I offer the following bons mots:

• Put spend on all your Chase cards every month—especially cards from which you earned a sign-up bonus.
• Keep some (at least 1 or 2) Chase cards for many (5+) years.
• Don't close any Chase card in the first two years.
• Pay the second-year annual fee on all your annual-fee cards—particularly those on which you didn't pay a first-year fee.
• Put non-category spend on all your category-type Chase cards. Ex. Freedom.
• Don't assume you may churn your Chase card after 24 months. Chase may not approve your application. Then you're left without the card but with a hard-pull.
• Understand that you're in a business relationship with Chase and that it will make business decisions about that relationship.
• Lastly, remember that bulls make money and bears make money, but thoats go to slaughter.

Brugge

I said that? If so, the context must have been different that it would seem when posted as a single statement.

But I have never been denied by Chase, and my DW has never been denied by Chase for a personal card. She was denied for an Ink, but we knew going in that was going to be more difficult than a personal app.

My point is that I don't care to do any apps where I have a 98% likelihood of a denial, and that's how it seems to be at the moment with Chase. So instead of applying for a CSP, with a slim chance of approval, I applied for another Citi AA EXEC 50K mile card yesterday, and was instantly approved.

Right now, if you are a churner, Citi is your friend; Chase is definitely not !

TMM1982

Citi TYP's aren't near as valuable as Chase UR's.

Mountain Trader

You assume Chase adopts a sound approach to credit card apps. As the Beach Boys said, wouldn't it be nice.

Great general observations, but irrelevant if recent data points are accurate in portraying that Chase now will not approve apps from those who have obtained a certain number of cards over the past year or two.

Good decision by Chase? Bad decision by Chase? It doesn't matter if it turns out this is the decision.

kathmom

If people still want data: wasn't confident about approval for Chase MileagePlus Explorer (50K + $100 credit offer through "fake booking" a UA flight), but decided to give it a go. Instant approval for $5000 CL, where I was expecting reconsideration at the best.

This was for my husband: already has 6 Chase cards, with Marriott app <6 mo ago, BA Visa 3 mos ago, plus a Chase auto loan May 1 and BofA Alaska Visa app May 11. (See why I wasn't super hopeful.) FICO 803, 5 figure income, just cancelled previous United Mileage Plus Explorer in Feb, but was eligible for signup bonus since it had been earned >24 mos ago.

So I guess we are lucky this time. Just wanted to give some encouraging results.