beltway

It's unlikely that Chase has any fixed numbers on any of this. Rather, success or failure in applying for a card depends on several individual factors, including

• declared income
• credit score
• total existing credit lines
• total credit lines with Chase
• number of recent hard pulls

The applicant with $500K in income, a good FICO score, and only a few recent hard pulls is going to fare better than the applicant with less income & a more alarming number of recent credit inquiries.

beltway

IMO there is still not enough anecdotal evidence to start inferring what rules there may be on how long an account must be closed before a re-churn.

Brugge

Or even if there are any rules on how long an account must be closed before a re-churn. Quite possibly the only rule is how long it takes the entire Chase IT system to register that your previous account was closed.

Quarantine

I'm interested to ask my husband to sign up for a CSP or Ink Plus so that we can start collecting UR points.

Background: I just moved to the US a few months ago and got married, so my credit history is fairly new. My husband has a pretty good credit score, 794 FICO according to Barclays. I was also approved for the Freedom card recently.

We obviously missed the boat for the Ink Plus' 70k signup bonus, anecdotes suggest the in-branch offer is not available anymore either.

What would you guys suggest: should he apply for the CSP or Ink Plus right now, in the hopes that the Ink Plus bonus will come back next time? I'm leaning towards the CSP, but I don't know if you guys have better insight into this?

mrfreemiles

CSP #1 opened 2/2012, downgraded to CS in 1/2013, opened CSP #2 12/2014.

Brugge

"This bonus offer is available to you as long as you have not received a new card member bonus for this product in the past 24 months."

I got the Chase British Air card two and a half years ago when the offer was 50K miles after meeting the spend, and then 50K more when you renewed the card.

The current 50K offer expires the end of this month. It's been much more than 2 years since I got my first bonus, but less than two years since I got the renewal bonus.

It seems to me that I am good to reapply now, since only the first 50K was actually a sign up bonus, and the second one was for renewal.

When I got that second bonus I was no longer a "new card member".

Anyone know if Chase is likely to see this the way I see it?

YoungBubbie

I'm in the same boat as you. I agree with you but does Chase?
I know someone was wondering about this a few months back. Don't know whether or not they applied.

Brugge

I'll wait out the weekend and see if anyone has any data points (I doubt they will) then I'll SM Chase. Although of course Chase will refuse to be bound by a wrong answer by a CSR, but at least I'll try. Then if no data points at all, I'll apply. No fee the first year, three months to do the minimum spend, so I can wait two months and see if I get a postcard from Chase saying I don't qualify. If not, I'll do the spend in one day just in time to post in the 3 month period. Worst that happens is I get the postcard, cancel the card, and waste a HP. Best case scenario, I get 50K BA miles to use for short hops in Europe and Asia, with minimal fuel surcharges.

tassojunior

What people don't realize is that the higher your CL is with a bank the more nervous they get about you as a risk. At Amex this leads to financial reviews and at Chase it leads to inquiries to "non-credit bureaus" and monitoring of MS both of which often result in closures.

If you lower your CL on cards after you satisfy the minimum spend it shows on your credit report and Chase knows you already were approved for a higher limit than you have. Of course if you're still doing the minimum spend or doing manufactured spend you shouldn't lower any limits to a point where the balance approaches the CL of the card.

I learned this by dealing with Barclays and BofA who do not slide CL's around like Chase. For them I lower a CL or close a card a couple days before applying for a new one.

Staying under the radar is critical to keeping credit cards coming.

Brugge

^

Biggie Fries

Okay, I'm trying to understand the thinking about optimal CLs given behavior....

I currently have only two Chase cards: A Hyatt, with a bit over $60K, because 9-10 mos. ago I closed United and Marriott cards which I wasn't really using, and held onto the credit; and a business Ink I got Oct/Nov, with $7K. I don't MS on the Hyatt -- I use it mainly for Hyatt and restaurants, since I value the Hyatt points -- and I have laid-off of office supply stores with the Ink while I meet the introductory minimum spend.

Now I'm anxious to get the Ritz-Carlton while the 140K points is still available (planning to stay in some RCs in Europe late Spring). Is the idea that I should (Brugge, earlier posts) be lowering my CL on the Hyatt before applying? Or not (Tassojunior, although I'm not sure that this advice applies in my case since I am not MSing with existing cards)?

TIA.

Brugge

I have been told by a Chase Recon CSR, although this has been disputed by other F/T posters, that a Chase CL of $60K or more not only will prevent instant approvals on apps, but cannot even be approved by an ordinary Recon CSR. That requires a supervisor to review the app, even when the Recon CSR wants to approve it.

I don't think the Ink CL combines with the Hyatt CL because one is a business card, and that is a different department at Chase from the personal cc department.

So unless you feel you really need to have $60K on the Hyatt and more CL on the Ritz, I'd reduce the Hyatt CL to at least $40K. That way Chase can auto approve you for $15K or $20K on the Ritz without special scrutiny. Not that doing so will guarantee an auto approval, but it will at least greatly improve your chances of one. And probably also make a Recon call easier if you do have to call in. Not everyone agrees with this. Just my Two Cents.

Happy

Our experiences, even before this new rule, have been that BA repeat bonus is possible once you have 2.5 years lapse from the first card. We and others we know, are able to get 50K again last time when the 50K first year fee waived was offered, with time lapse from 2.5 to 3 years.

During the last time the 50K first year fee waived was first offered, someone who had 100K offer before, went to ask Chase via SM was told No, but people told him to just shut up and spend the requisite $, then see what happened. He finally went for that advice and of course got his bonus.

Therefore, I dont think you need to even ask Chase on that and just do it.

Chase view total CL from BOTH personal and business - at least that is what I am told on more than one recon calls on the personal cards - reps mentioned the high CL on the Ink Cash being the reason. And yes, they can reallocate CL from biz card to personal card. That was exactly what was done to open my BA last year. They can also reallocate CL from personal to biz and that was what they did without my knowledge, by moving 5K from my Freedom to open Ink Plus with a 10K line and then sent me a letter to inform me the fact. I never call.

The $60K is a ball park and it is the case for me as mentioned by more than one specialists. Some folks' ball park figures are lowered some are higher, but between 40 to 60K total CL, your chance of instant approvals is decidedly lowered than if your total exposure is lower, with the same credit profile in all other aspects. At first I was surprised seeing people getting 4 to 6 Chase credit cards in 12 to 18 months time but their total CLs were like 30 to 40K, I thought Wow, so many cards, so little CL per card - but that is how Chase' risk assessment software seems to be programmed and we should just go by their algo to improve our chances, just my thought.

Brugge

^ Thanks, I'll apply soon and report what happens.

wanderingwolf

I have one and only one Chase business card (SW Rapid Rewards business plus) that I got a year ago, along with a personal card, to get the companion pass. To get the business card at the time, I had to talk to Chase, fax them "proof of business" and finally was approved after moving some credit line around. Now I no longer need the card and the $69 AF is due. I've cancelled the SW Personal and I'm considering canceling this business card as well but wondered if there are some benefits to keeping it - like making future Chase business applications easier?