I’m beginning to think that CPC does help a little, in mysterious ways, for credit card applications. I’ve been CPC for about 4-5 years, transferred enough long (and still) held assets 4-5 years ago specifically to get around 5/24 for a Sapphire Preferred application. A month later Sapphire Reserve was introduced and I applied in person with a new (to me and Chase) CPC banker and was instantly approved.
A few months ago, I was approved for 3 new Chase accounts on the same day. For the first time in over 20 years I was under 5/24, instantly approved for 2 business accounts (mainly to avoid the accounts adding to 5/24) even though the specifics of my business (# years, structure, SSN vs EIN, income) are not unlike the specifics described (on the
Applying for Chase BUSINESS Cards thread) by those who have been declined. Had to call recon for the 3rd application, a personal card. Offered to reallocate some of my 6 digit Sapphire credit limit (about half my stated income, a limit I never come close to, highest balance $6,000), I was approved after a 1 minute hold with a relatively high credit limit and no reallocation necessary. 5 weeks later I was approved for another Chase personal card after a recon phone call and reallocation of credit.
I’m not certain I would have been approved for the Sapphire Reserve account 4 years ago and all 4 new accounts recently if I wasn’t CPC. It’s probably still no longer a way around 5/24, I personally haven’t tested that for 2 years, but I think it may help in unknown ways. It’s painless for me. In the JPM account part of my CPC account, I’ve kept some mutual fund positions I’ve owned for 20 years and have no intention of selling anytime soon (the capital gains taxes would be very annoying
).