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Applying for Chase Credit Cards- Archived 2008-5/2015

Applying for Chase Credit Cards- Archived 2008-5/2015

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Old Jan 27, 15, 1:18 pm
  #2986  
 
Join Date: Nov 2014
Posts: 197
Originally Posted by Ritley572 View Post
So I just got stonewalled by Chase' business reconsideration team, twice.

In November 2014 I applied for and received the CSP card with a 20k CL and the Business Ink Plus with a 10k CL (for a legitimate, real business).

Last night I applied for the Southwest Personal Premier card and was approved with a 24k CL but was declined for the Southwest Business Premier card (as well as the Amex Hilton Surpass (approved 15k CL) and the Citi Hilton HHonors (declined) as part of my sign up round robin).

For reference my latest true FICO scores which I got through a mortgage refinance that closed last Friday were all over 780.

I called the business reconsideration line this morning and explained to them my reasons for wanting the business card (separation of concerns between personal and business spending, just got a new contract with a company based in TX and CO and will need to be travelling a lot, SW is my preferred domestic airline, the benefits of the card along with that make it the logical choice and I've been happy with my relationship with Chase even though there isn't much history so I'd like to give them more of my business as it makes it easier for me to manage if I have a single account dashboard and single bank for my business expenses.). I was stonewalled with their reasoning being I (now) have 3 very new Chase CC accounts and they will not extend me another card until they see how I utilize my current cards. After a lengthy discussion trying to see if I had any options, including asking if moving around my credit or lowering my limits would be a sufficient "risk buffer" it was apparent I wasn't getting anywhere with this rep so I said thank you hung up and tried again a few hours later. The second conversation went exactly the same with a different rep.

This is all fine and I can't say I'm surprised other than it was curious to me that they refused to just lower my CC limits and give me another business card. I asked why 3 cards with a 55k limit is OK but 4 cards with that same limit, or even lower, isn't. I didn't receive a satisfactory answer.

My question is this. Is it worth it for me to call the business credit reallocation office or the executive offices or should I just take my lumps and wait the ludicrous time suggested (6 months to a year) before re-applying? (Or play around with getting those pulls to drop off my reports if Chase uses one of the two FICO bureaus that I can do that with, though that seems like way too much of a hassle for an admitted newbie like myself)
Update on this. After calling 4 times to the business recon line and getting shot down all 4 times I called the executive offices line and explained I would gladly lower CL or shift CL to accomodate and re-iterated that I wanted the card because I was going to be travelling for my business often and SW is my preferred domestic airline. After 4 days I received notification that the decision stands to not give me a new business card until they "see how I do" with my ink card. Oh well. Guess I'll have to wait til June for my companion pass.
Ritley572 is offline  
Old Jan 27, 15, 1:25 pm
  #2987  
 
Join Date: Dec 2006
Posts: 325
Wow. Thank you for your report here. That's shockingly annoying.

Especially as I'm about to apply for 2 Biz cards today or tomorrow. (United 50k and Marriott 50k + 1 night)

Hoping I'll have better luck. Please report back after a few months if you try again. Very interested to hear how this goes.

Thanks!
GrnLantern is offline  
Old Jan 27, 15, 3:55 pm
  #2988  
 
Join Date: Apr 2014
Location: ORD
Programs: AAdvantage, UA, Avios
Posts: 635
Originally Posted by GrnLantern View Post
Wow. Thank you for your report here. That's shockingly annoying.

Especially as I'm about to apply for 2 Biz cards today or tomorrow. (United 50k and Marriott 50k + 1 night)

Hoping I'll have better luck. Please report back after a few months if you try again. Very interested to hear how this goes.

Thanks!
Apply for the one you really want first.. Especially you have other business cards with Chase. Gonna be tough since they will say you have sufficient credit on the one.
starbuk is offline  
Old Jan 27, 15, 4:00 pm
  #2989  
 
Join Date: Apr 2014
Location: ORD
Programs: AAdvantage, UA, Avios
Posts: 635
Originally Posted by Brugge View Post
Sounds like a classic situation for HUCA. Not at the end of the call, but as soon as the "real tough credit analyst' part became clear. "Sorry, Fed Ex is at the door and needs a signature, I'll have to call you back".
Definitely a huca but it's interesting that they know about ms and don't care. Also may want to shy away from chase when going to certain stores and doing ms, if you have a choice.
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Old Jan 27, 15, 5:37 pm
  #2990  
 
Join Date: Mar 2000
Posts: 5,642
Any recent experiences with how to overcome the following: with 800 FICO and no prior Chase problem: apply for a Chase card; Chase pulls your credit; several days later they advise that due to "previous unsatisfactory experience " it was turned down. You call and Chase refuses to provide any reason. You ask your Chase branch Manager to call and Chase card refuses to give her any reason.
Is this what they call "black balling."
best is offline  
Old Jan 27, 15, 6:20 pm
  #2991  
 
Join Date: Nov 2014
Posts: 197
Originally Posted by GrnLantern View Post
Wow. Thank you for your report here. That's shockingly annoying.

Especially as I'm about to apply for 2 Biz cards today or tomorrow. (United 50k and Marriott 50k + 1 night)

Hoping I'll have better luck. Please report back after a few months if you try again. Very interested to hear how this goes.

Thanks!
Keep in mind I had no previous relationship with Chase prior to me receiving the ink and CSP in November 2014 so I am a very new customer to them. I can't really say I'm surprised though I did find the hard limit on # of cards rather than overall CL a little curious. They must be operating under the assumption I am trying to game their sign up bonuses (which would be a correct assumption)
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Old Jan 27, 15, 6:34 pm
  #2992  
 
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
Originally Posted by starbuk View Post
Definitely a huca but it's interesting that they know about ms and don't care. Also may want to shy away from chase when going to certain stores and doing ms, if you have a choice.
These are huge corporations moving around Billions of $ a year. With entire departments devoted to analysis of marketing schemes and spending patterns. Why would anyone think they wouldn't know about MS? Of course they do. The only thing that would actually shock me is if Chase didn't have employees whose job description includes "read travel blogs and FT, and report what you find".

I'm guessing around 2 years ago, I don't quite remember when, but it was before I knew about SMing to cancel a card, I called Citi to cancel a HH card. I got transferred to Retention, and the guy was really trying to talk me out of canceling. As a last attempt, he said "remember, this card gives you 3 points per $ at drug stores." He could have also said supermarkets and gas stations, but he didn't.

I knew exactly what he meant, which while unspoken, was: 'I see you do lots of $5K purchases at CVS for MS, don't you want to get the 3X points per $ for that?'

And he was just a Retention guy, so imagine what the VP of Marketing knows about MS. That's why it cracks me up when people have a fit because some junior CSR at Target says something out loud about "are you doing this to get miles"?

Or the other fear, this is "too good to be true, and will be shut down next week". AMEX and Target knew exactly what they were doing when they set this program up. AMEX knows what we all did with BB at WM, probably read all the moaning on FT about how horrible it is trying to load BB with Kate, and offered Target RB as a way to take massive market share from WM when we do our shopping when we go to load.

Do a stock comparison for both stores. The drop in gas prices is great for both of them. Shoppers have more disposable income, and it costs less to drive to the stores to shop. But since early Oct WM is up 17%, and Target is up 29%. Just sayin...
Brugge is offline  
Old Jan 28, 15, 7:34 am
  #2993  
 
Join Date: Apr 2014
Location: ORD
Programs: AAdvantage, UA, Avios
Posts: 635
Originally Posted by Brugge View Post
These are huge corporations moving around Billions of $ a year. With entire departments devoted to analysis of marketing schemes and spending patterns. Why would anyone think they wouldn't know about MS? Of course they do. The only thing that would actually shock me is if Chase didn't have employees whose job description includes "read travel blogs and FT, and report what you find".

I'm guessing around 2 years ago, I don't quite remember when, but it was before I knew about SMing to cancel a card, I called Citi to cancel a HH card. I got transferred to Retention, and the guy was really trying to talk me out of canceling. As a last attempt, he said "remember, this card gives you 3 points per $ at drug stores." He could have also said supermarkets and gas stations, but he didn't.

I knew exactly what he meant, which while unspoken, was: 'I see you do lots of $5K purchases at CVS for MS, don't you want to get the 3X points per $ for that?'

And he was just a Retention guy, so imagine what the VP of Marketing knows about MS. That's why it cracks me up when people have a fit because some junior CSR at Target says something out loud about "are you doing this to get miles"?

Or the other fear, this is "too good to be true, and will be shut down next week". AMEX and Target knew exactly what they were doing when they set this program up. AMEX knows what we all did with BB at WM, probably read all the moaning on FT about how horrible it is trying to load BB with Kate, and offered Target RB as a way to take massive market share from WM when we do our shopping when we go to load.

Do a stock comparison for both stores. The drop in gas prices is great for both of them. Shoppers have more disposable income, and it costs less to drive to the stores to shop. But since early Oct WM is up 17%, and Target is up 29%. Just sayin...
Agree on almost all fronts - the stock price movements likely have little to do with RB. Besides, loading $ at TGT does not actually count as revenue for them until/if you spent it on products at the store OR if you paid a fee to use RB and that fee was not 100% given away to AMEX.
starbuk is offline  
Old Jan 28, 15, 12:55 pm
  #2994  
 
Join Date: Nov 2011
Location: MCI
Posts: 88
Originally Posted by Brugge View Post
These are huge corporations moving around Billions of $ a year. With entire departments devoted to analysis of marketing schemes and spending patterns. Why would anyone think they wouldn't know about MS? Of course they do. The only thing that would actually shock me is if Chase didn't have employees whose job description includes "read travel blogs and FT, and report what you find".

I'm guessing around 2 years ago, I don't quite remember when, but it was before I knew about SMing to cancel a card, I called Citi to cancel a HH card. I got transferred to Retention, and the guy was really trying to talk me out of canceling. As a last attempt, he said "remember, this card gives you 3 points per $ at drug stores." He could have also said supermarkets and gas stations, but he didn't.

I knew exactly what he meant, which while unspoken, was: 'I see you do lots of $5K purchases at CVS for MS, don't you want to get the 3X points per $ for that?'

And he was just a Retention guy, so imagine what the VP of Marketing knows about MS. That's why it cracks me up when people have a fit because some junior CSR at Target says something out loud about "are you doing this to get miles"?

Or the other fear, this is "too good to be true, and will be shut down next week". AMEX and Target knew exactly what they were doing when they set this program up. AMEX knows what we all did with BB at WM, probably read all the moaning on FT about how horrible it is trying to load BB with Kate, and offered Target RB as a way to take massive market share from WM when we do our shopping when we go to load.

Do a stock comparison for both stores. The drop in gas prices is great for both of them. Shoppers have more disposable income, and it costs less to drive to the stores to shop. But since early Oct WM is up 17%, and Target is up 29%. Just sayin...
+1
monkeywrencher is offline  
Old Jan 28, 15, 3:38 pm
  #2995  
 
Join Date: Dec 2006
Posts: 325
Originally Posted by GrnLantern View Post
Wow. Thank you for your report here. That's shockingly annoying.

Especially as I'm about to apply for 2 Biz cards today or tomorrow. (United 50k and Marriott 50k + 1 night)

Hoping I'll have better luck. Please report back after a few months if you try again. Very interested to hear how this goes.

Thanks!
Originally Posted by starbuk View Post
Apply for the one you really want first.. Especially you have other business cards with Chase. Gonna be tough since they will say you have sufficient credit on the one.
Wow, so I just applied for United Explorer Biz and Marriott Premier Biz. I spent 45 minutes on the phone with a very nice guy at Chase Biz Recon, but I seriously got grilled.

The end result was mediocre, not negative, but still very surprising. I plan to call Chase Biz Recon again in a little bit (either today or tomorrow).

I started with a Southwest Biz card that I've had for 7 years with an $8600 CL. I explained my situation, explained my business, explained my goal with applying for those two cards (I intended to close the Southwest Biz card as part of the app process and move the CL over), I explained away every HP and every new CC opened (on the personal side). He was quite satisfied with everything, except he refused to allow me to have 2 Biz cards.

The weird thing was, when he came back, he granted me a $15k CL on the new card (closing the old one, so I gained $6400 in CL, despite insisting earlier that I didn't want new credit, just the two new cards).

GrnLantern is offline  
Old Jan 28, 15, 4:20 pm
  #2996  
 
Join Date: Dec 2006
Posts: 325
Originally Posted by GrnLantern View Post
Wow, so I just applied for United Explorer Biz and Marriott Premier Biz. I spent 45 minutes on the phone with a very nice guy at Chase Biz Recon, but I seriously got grilled.

The end result was mediocre, not negative, but still very surprising. I plan to call Chase Biz Recon again in a little bit (either today or tomorrow).

I started with a Southwest Biz card that I've had for 7 years with an $8600 CL. I explained my situation, explained my business, explained my goal with applying for those two cards (I intended to close the Southwest Biz card as part of the app process and move the CL over), I explained away every HP and every new CC opened (on the personal side). He was quite satisfied with everything, except he refused to allow me to have 2 Biz cards.

The weird thing was, when he came back, he granted me a $15k CL on the new card (closing the old one, so I gained $6400 in CL, despite insisting earlier that I didn't want new credit, just the two new cards).

Called Chase Biz Recon again. Got a more thorough answer this time.

Apparently they now look at # of Biz cards for a particular business, as opposed to total CL exposure. This explains why I actually got *more* credit with my new United Explorer Biz card (replacing my Southwest Biz card), but could not convince them to split the CL into two cards and allow me to also get the Marriott Biz card.

He did note that if I had a second business, I could open another card for that one, but it would also face the same constraints.

They look at overall business spending to determine if a business can justify a second card now.

That throws a wrench into my plans to grab a Chase Ink Plus card when/if they ever have a 70k UR bonus offer again.
GrnLantern is offline  
Old Jan 28, 15, 4:49 pm
  #2997  
 
Join Date: Sep 2013
Programs: AA Lifetime Gold
Posts: 3,677
Originally Posted by GrnLantern View Post
Called Chase Biz Recon again. Got a more thorough answer this time.

Apparently they now look at # of Biz cards for a particular business, as opposed to total CL exposure. This explains why I actually got *more* credit with my new United Explorer Biz card (replacing my Southwest Biz card), but could not convince them to split the CL into two cards and allow me to also get the Marriott Biz card.

He did note that if I had a second business, I could open another card for that one, but it would also face the same constraints.

They look at overall business spending to determine if a business can justify a second card now.

That throws a wrench into my plans to grab a Chase Ink Plus card when/if they ever have a 70k UR bonus offer again.
Very annoying. You could easily use the Marriott card for extra points on a Business stay, and the United card for category bonus points on Business travel. That's totally reasonable. How does having two cards for different purposes, each with half of a CL, endanger Chase over one Business card with double the CL?

Did you get a sense they were only talking about Chase cards, or do they also look at Business cards from other banks? Are they taking AMEX and Citi Business cards into consideration too?
Brugge is offline  
Old Jan 28, 15, 4:56 pm
  #2998  
 
Join Date: Dec 2006
Posts: 325
Originally Posted by Brugge View Post
Very annoying. You could easily use the Marriott card for extra points on a Business stay, and the United card for category bonus points on Business travel. That's totally reasonable. How does having two cards for different purposes, each with half of a CL, endanger Chase over one Business card with double the CL?
That's exactly what I said, as well. (Slightly differently, but same message.)

He consulted with his Manager about this, twice, as well.

I didn't say this, but one could make the case that a single card with $15k CL is riskier than two cards with $7500 CL each since it's a teeny tiny bit less work to max out one single card, and default, than two cards with half the limit each.

Originally Posted by Brugge View Post
Did you get a sense they were only talking about Chase cards, or do they also look at Business cards from other banks? Are they taking AMEX and Citi Business cards into consideration too?
Just Chase Biz cards. And I got the sense he could care less about my Chase Personal cards (of which I have many, and far more CL than the limit for auto-approvals).

During the initial review step (on the first Chase Biz Recon call), I was asked about all my new personal cards that started showing up on my reports (Chase Biz pulled both Equifax and Experian today). I calmly explained each one away (some of which were done purely for bonuses, and others were because I'm going to be flying AA, or whatever). He was fine with all my explanation.
GrnLantern is offline  
Old Jan 28, 15, 9:29 pm
  #2999  
 
Join Date: Nov 2014
Posts: 197
That's interesting considering I am a very new customer and got a completely different answer. They never once told me they didn't want to give me two business cards. They told me they didn't want to give me any new cards until they "saw how I did". But they never mentioned a 1 card per business rule. Hrmmm, might be time to start up a new business.
Ritley572 is offline  
Old Jan 29, 15, 7:23 am
  #3000  
 
Join Date: Feb 2000
Location: Pittsburgh
Programs: Whoever Has the Best Bonus
Posts: 4,951
I have two Chase cards with 30k lines (Both 2+ years old), when I applied for a third I did not get instant approval. On recon call they just asked for more information and gave me a 5k line.

I do want to get a 4th card without a recon call, so I adjusted one of my initial card lines down to 5k (that card I very rarely use) via a secure message, it was immediately changed. I will report back if I get the 4th card with instant approval (FICO score still as high as usual, no real ding from the last credit application)
pitflyer is offline  

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