Originally Posted by
JJonahJ
AT and mikey,
Thanks for the detailed reports. We've opened a significant number of MBNA cards in the past few years, but like you we are seeing each new recent app becoming more scrutinized, starting just over a year ago. Myself, I've never had to resort to shifting limits to get a reconsideration approval, but my wife has. And if it's not that, then it's the longer than usual delays in getting approval responses from MBNA.
Most recently, they silently lowered our limits of other existing MBNA cards, which we had seen last year as well, but this time they formally sent a letter to notify us of the specific details. What caught my attention though was the wording.
"Your application for an additional MBNA credit card account has been approved"
(bolding mine)
It's like as if they are emphasizing the "multiple" cards that we already do have with them (and probably can see I have over a dozen other cancelled cards in my profile).
And another irk is that the postal letter they'd sent had details of a huge reduction to the limit of my long-time SmartCash Infinite Visa card, which I actually do use often, not so much for groceries/gas anymore, but for purchases where I need the extended warranty or purchase protection, since it's not a card that I cancel and churn. I've gone from a one-time total credit limit close to $50K, to now less than $15K. As mentioned earlier in Feb, MBNA had also shut down some of our duplicate card accounts without any pre/post notifications. Just.Gone.
I realize people are still reporting being able to open multiple/duplicate cards with MBNA, but from our corner (and maybe it's a much different corner than your average bear's due to the longer history of churning we've engraved) MBNA are appearing to curb our servings. No more buffets for us.
People who are able to continue to hard-churn the MBNA cards, enjoy it while you can.
====
Chase cards - I would not try to churn them so quickly. Way too picky. Fastest we've churned is within 6 months after cancelling.
JJJ, yes, I will cool it on the Chase Marriott applications and have for awhile...but I do have a handful of recent applications to other cards.
Do you think this matter?
And a few data points:
1. A churned Amex Plat that was refused points on the phone...just had the bonus points come through.
2. An SPG card that was previously churned as well...just received points.
And
3. A family member that I referred for a Plat card was required to physically present theirselves to the nearest Canada Post office, so that the staff there could "verify their identity" and confirm it to Amex.
The scrutiny is unreal.
This is a legit monied professional person with multiple other cards...who has never heard of this before....and neither have I...