Originally Posted by
rrgg
I've been trying to read through the cases here and on Dan's Deals. It sounds like this is happening to people who opened 3 Chase cards on the same day or around 4-5 Chase cards in the past 6 months.
Is that about right, or has anyone been shut down for opening fewer accounts?
My history: Mortgage with Chase, but no checking. BA Visa 16+ months; WN Visa 8+ months with little spending; Freedom 10+ years (was something else before freedom). Closed accounts in 2011: UA no-fee card for 12+ years (originally from First Bank); CO card 10 months. It's the CO and WN that worry me. Given what's being reported, their computer might flag me as someone in it for the bonuses. Thanks.
With your history I dont think you have anything to worry about.
I seriously doubt the system flagging is a deciding factor. I do believe the system has a scoring mechanism which takes into account of many things, including the customer's history with Chase - especially whether the customer has a several years of Payment History with Chase. It is all risk-management which while it also takes churning into account, the main purpose is still to mitigate credit risk.