Nervous about high Ultimate Rewards balance?
Apr 23, 2012, 12:15 pm
#46
FlyerTalk Evangelist
Join Date: Nov 2002
Location: All over
Programs: Most
Posts: 10,839
Few years ago, City temporarily froze my Thank You Points account to conduct an audit, which took couple of months.
I bought an awful lot of stuff through their online mall ($100K+ yearly), when you were able to redeem TYP at 3 cents each. I was essentially getting 10% to 20% cashback on all of my purchases. All these were legit. No returns of any kind.
The number of transactions, the value on transactions, and the frequency was very high. I also hit the max dollar amount on the purchases on both two Citi TYN cards I had, and also had the matching airline activity to double the earnings on them.
I bought an awful lot of stuff through their online mall ($100K+ yearly), when you were able to redeem TYP at 3 cents each. I was essentially getting 10% to 20% cashback on all of my purchases. All these were legit. No returns of any kind.
The number of transactions, the value on transactions, and the frequency was very high. I also hit the max dollar amount on the purchases on both two Citi TYN cards I had, and also had the matching airline activity to double the earnings on them.
Last edited by holtju2; Apr 23, 2012 at 12:47 pm Reason: typo
Apr 23, 2012, 12:20 pm
#47
Join Date: Oct 2009
Location: Somewhere over the rainbow
Programs: Airline Free Agent, Bonvoy Platinum, Hyatt Globalist
Posts: 3,812
Hi guys, I'm just wondering how many people are nervous about high ultimate rewards points balances, and what people do about it?
I think many of us are on the "aggresive" side with chase credit cards, and we have heard a few stories about accounts being closed. I use chase credit cards for all my purchaes, but I also have taken advantage of around 4 or 5 sign up bonsus in the past 12 months.
I would be upset if my accounts got closed, but even more upset about losing 200k ultimate rewards points. It seems safer to start transferring these rewards to either united, southwest, or hyatt, but of course once we transfer, we lose the flexibility of having them in UR. Also, maybe I am waiting for UR to offer transfer bonuses as Amex MR does.
Anyone have thoughts on this or developed a thought out strategy?
For me, I'm thinking southwest is the safest place to store points because of the certainty of value (and beacuse I have the companion pass through 2013). But I already have 150K southwest points and 600K united points, and I don't want to pad those accounts unless there was a high probabilty of me getting shut down by chase. I have never had any hyatt points. I have heard people say thats a good value redemption.
Any thoughts on this?
I think many of us are on the "aggresive" side with chase credit cards, and we have heard a few stories about accounts being closed. I use chase credit cards for all my purchaes, but I also have taken advantage of around 4 or 5 sign up bonsus in the past 12 months.
I would be upset if my accounts got closed, but even more upset about losing 200k ultimate rewards points. It seems safer to start transferring these rewards to either united, southwest, or hyatt, but of course once we transfer, we lose the flexibility of having them in UR. Also, maybe I am waiting for UR to offer transfer bonuses as Amex MR does.
Anyone have thoughts on this or developed a thought out strategy?
For me, I'm thinking southwest is the safest place to store points because of the certainty of value (and beacuse I have the companion pass through 2013). But I already have 150K southwest points and 600K united points, and I don't want to pad those accounts unless there was a high probabilty of me getting shut down by chase. I have never had any hyatt points. I have heard people say thats a good value redemption.
Any thoughts on this?
Apr 23, 2012, 10:33 pm
#49
Join Date: Oct 2011
Location: MKE
Programs: WN CP, Hilton Gold
Posts: 205
I currently have 5 cards and haven't raised any red flags as far as I'm aware.
I do feel that I'd be pushing the limits on applying for the Hyatt or Marriott card, but I certainly would be using them for the intended purpose.
I do feel that I'd be pushing the limits on applying for the Hyatt or Marriott card, but I certainly would be using them for the intended purpose.
Apr 24, 2012, 1:34 pm
#50
Join Date: Aug 2010
Posts: 38
I saw that thread and figured that I would post since I've directly hit by Chase closing accounts.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
Apr 24, 2012, 3:20 pm
#51
Join Date: May 2002
Location: Sacramento, CA, US
Posts: 2,229
I transfer my Ultimate points to United within 12 hours of the points appearing in my Ultimate account (in 1000-point increments of course).
I'm planning to let my Sapphire card expire rather than to pay the renewal fee, so I will need to watch the remaining points closely at the end. Perhaps I should apply for another card.
I'm planning to let my Sapphire card expire rather than to pay the renewal fee, so I will need to watch the remaining points closely at the end. Perhaps I should apply for another card.
Apr 24, 2012, 3:27 pm
#52
Join Date: Oct 2009
Location: Land of the parrots and parrotheads
Programs: Several dozen
Posts: 4,820
The cardinals (audit, risk, fraud loss professionals) operate in mysterious ways. Guess I would know.
Over here, I now have 6 Chase cards, a 750ish score and 14 cards from other institutions. At peak load in the mint days the credit usage was as high as $70,000 a day. Yet only AMEX did a financial review and I passed it fine, using the opportunity to avoid card renewal fees and churn cards for "new customer" sign on bonuses.
The key for me is tracking percentage credit usage per card and per institution. You don't want to create an attention getting spike that looks like you are running up credit and ready to walk. Just a hint that you are buying gift cards and money orders and you look like one big risk.
My credit limit is a multiple of my income, rather than a percentage of it, and I open a new card every month.
The reason I mention all this is that alot of things don't really matter, but the percentage utilization of credit seems to be critical. Don't do 30% credit utilization on a card or a bank. Keep it lower. Also don't do so many applications in a single month. Space them out since they are typically followed by an attempt to meet a minimum spend.
Over here, I now have 6 Chase cards, a 750ish score and 14 cards from other institutions. At peak load in the mint days the credit usage was as high as $70,000 a day. Yet only AMEX did a financial review and I passed it fine, using the opportunity to avoid card renewal fees and churn cards for "new customer" sign on bonuses.
The key for me is tracking percentage credit usage per card and per institution. You don't want to create an attention getting spike that looks like you are running up credit and ready to walk. Just a hint that you are buying gift cards and money orders and you look like one big risk.
My credit limit is a multiple of my income, rather than a percentage of it, and I open a new card every month.
The reason I mention all this is that alot of things don't really matter, but the percentage utilization of credit seems to be critical. Don't do 30% credit utilization on a card or a bank. Keep it lower. Also don't do so many applications in a single month. Space them out since they are typically followed by an attempt to meet a minimum spend.
I saw that thread and figured that I would post since I've directly hit by Chase closing accounts.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
Apr 24, 2012, 4:08 pm
#53
Join Date: Dec 2009
Location: ICT
Programs: AA ExP
Posts: 1,860
You get 33% more value or 25% discount - they are the same thing but expressed in different terms when different basis are used in the calculation.
Your math is off, or better way to put it, misled by the banks' marketing wording.
Both UR pts and TY pts when used to redeem an airline revenue ticket, have the SAME value.
They work the same way:
A $100 worth ticket, you only need 7500 points. That is a 25% discount.
75/100 = 0.75, 1-0.75 = 0.25 so you get a 25% discount.
Your math is off, or better way to put it, misled by the banks' marketing wording.
Both UR pts and TY pts when used to redeem an airline revenue ticket, have the SAME value.
They work the same way:
A $100 worth ticket, you only need 7500 points. That is a 25% discount.
75/100 = 0.75, 1-0.75 = 0.25 so you get a 25% discount.
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
(For the record, Amex closing my accounts was a big mistake on their part. I spent $100k+ with Chase this last year and on my track to do many times that number this year, all with 100% legit spend. I certainly don't miss MR or DL, but I am wistful about SPG and HH.)
--
I would also be curious why the OP is afraid of account closure if he's not doing anything wrong?
Apr 24, 2012, 4:10 pm
#54
Join Date: Apr 2010
Location: sjc sfo
Programs: A little bit of miles and points scattered everywhere
Posts: 360
I think most of us probably use the FTG Quarterly App Strategy but maybe I need to rethink this. I see Aloha you apply for new card each month and maybe that is wiser...or say 2 cards every other month. Maybe applying for multiple credit accounts at one time is now a red flag for the banks where it wasn't in the past? I know FTG's strategy was based around minimal impact on his credit score, but does monthly that much more detrimental to your score?
The one Chase story that was a wake up call for me was a guy that got shut out from Chase after applying due to having Credit Limits of 2x his income. I am way above that. I used to keep cards up until the annual fee is due but in some cases I cancel earlier to reduce my overall limits.
Chase does scare me. I tread lightly with them. When applying for new Chase cards I do transfer all my UR points to United or Southwest before hand.
The one Chase story that was a wake up call for me was a guy that got shut out from Chase after applying due to having Credit Limits of 2x his income. I am way above that. I used to keep cards up until the annual fee is due but in some cases I cancel earlier to reduce my overall limits.
Chase does scare me. I tread lightly with them. When applying for new Chase cards I do transfer all my UR points to United or Southwest before hand.
Apr 24, 2012, 6:48 pm
#55
Join Date: Jul 2011
Location: North America
Posts: 2,265
I think it has less to do with 'churning' cards for 'points' and more to do with the economy. When a bank sees someone with a relatively short/vague credit history (ie: only unsecured credit cards) and they notice that individual seeking abundance of unsecured credit from different banks, I'm sure it raises red flags. It is just the way things are now. Yes most banks have eased up on offering credit but I think their back-end detection is way more stricter than what it was 5-6 years ago. It could be said Chase actions have nothing to do with going after customers who are churning cards for 'points'; but just the mere fact that those customers are churning/opening lots of cards (and in most cases, barely using those cards past min spend, if at all)...for whatever reason. Banks see someone with $100k in available revolving credit with probably as much risk as someone with a 80% utilization ratio.
Last edited by CodeAdam10; Apr 24, 2012 at 6:53 pm
Apr 24, 2012, 7:52 pm
#56
Join Date: Jan 2007
Programs: Many
Posts: 335
I saw that thread and figured that I would post since I've directly hit by Chase closing accounts.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
I used to own 3 Chase credit cards including Freedom, Sapphire Preferred and OnePass. I respectively owned these cards for 2 years, 1.5 year, and 0.5 year when Chase closed my accounts after I did a round of applications.
I checked my credit (it was good, 750-ish) and decided it was time for a new application round. I applied for four cards, from four different banks (CITI, AMEX, BoA and Chase). All were approved but the Chase Southwest personal card. I called them and they told me they had to review it first and could not make a decision right away. When I checked my Chase accounts the following week, they were all closed. I called and was transferred all the way to Chase's "credit gurus". She kindly but firmly explained that I had become a credit risk as I had too many cards (15) and had a credit limit too high compared to my household income (Total CL was about 85% of annual income). I tried to negotiate asking to maybe close a couple accounts or reducing the CL on my cards. Nothing to do. All the accounts were closed and will remain this way until I called them back and have them check if they can re-open them based on my credit report changes. It seems that they may be placed on some type hold as she said I could re-open them without re-applying once I've addressed the aforementioned issues.
Now, as far as background. I have never had a single late payment on any of my cards, my utilization ratio is no more than 5% (often less) total and rarely higher than 30% on a single card. I apply for cards usually 1.5 times a year. Two of the cards also where my main spending cards (Freedom and Sapphire). I admit that my history is a bit short. I got my first credit card in 2007 and have been opening cards on a regular basis for miles since then. Another factor that could have been considered is that I also apply for a Chase Freedom for my wife at the same time (by the way, they closed her existing Continental account and denied the Chase Freedom).
Needless to say that I was extremely disappointed for not being contacted by Chase before they closed all my accounts. It felt really wrong. Especially because once they closed all my accounts, my 120,000 UR points were gone. It clearly says that there is no way to get your points AFTER your accounts are closed and that representatives should let you beforehand to redeem your points. I was obviously not told anything. I tried a few things but never got the points back (nor the accounts so far).
I checked my credit report and credit score and everything seemed normal other than my 4 applications in 4 different banks at that time. I've been told to lay low, see how things go and maybe ask them to re-open my accounts in 6 months.
Apr 24, 2012, 11:15 pm
#57
Join Date: Jul 2004
Posts: 377
This thread captured my fears exactly, and I only have a small number of UR points compared to others. I apply for new cards pretty regularly, usually only meet the minimum spend and do bonus categories, and usually cancel before annual fees hit (only exception is if there is a huge benefit to paying the fee, such as the Priority Club free night certificate). I only have four Chase cards now, though have canceled a few in the past. I've decided to be pretty cautious with Chase going forward, so I have vowed to apply for a new Chase card only every six months, and to redeem any points before doing so. There are enough other good offers out there from other banks.
BTW, I only apply for one card at a time, about every month or two, and have only had to call a bank twice for approval ... ever. I also have had no problems with three mortgage refis at great rates in the past couple of years, and am at or over 20 hard inquiries with each bureau (triple-pull refis took a toll in that respect, as did the triple-pull CapOne cards from 2011). So for me, I certainly don't subscribe to the idea that doing a big app-o-rama every few months is the best strategy. I think one application every month or two is a much better way to fly under the radar and not raise any red flags.
BTW, I only apply for one card at a time, about every month or two, and have only had to call a bank twice for approval ... ever. I also have had no problems with three mortgage refis at great rates in the past couple of years, and am at or over 20 hard inquiries with each bureau (triple-pull refis took a toll in that respect, as did the triple-pull CapOne cards from 2011). So for me, I certainly don't subscribe to the idea that doing a big app-o-rama every few months is the best strategy. I think one application every month or two is a much better way to fly under the radar and not raise any red flags.
Apr 25, 2012, 2:07 am
#58
Join Date: Sep 2009
Posts: 1,758
The problem is many will charge 150-200% of their CL any not even a peep. Others will churn their CL 8-10 times in a month with the same results. Go figure.
Apr 25, 2012, 9:09 am
#59
FlyerTalk Evangelist
Join Date: Jul 2003
Location: Florida
Posts: 29,767
Had to deal with Manila again and the guy went thru the verification process to re-activate it. The damn fund does not even leave Chase because PUSH takes 3 business days to complete, and the external bank has been verified via deposit method months ago.
Apr 25, 2012, 10:28 am
#60
Join Date: Mar 2010
Posts: 1,173
imo
chase sucks, the best way to deal with them is to earn and burn....close accounts completely, then apply for new ones. I get one personal and one business checking bonus each calander year...last time it was $350 combined. wait until the 6th statement and cancel the whole deal. They write the fine print rules, I take advantage of them.
On CC accounts they have me pegged to 3 cards max...don't know why but for me that is the number no matter how long between apps....I use them for a while then after 6-12 months cancel them.....this last time I waited until I got the denial letter and called and agreed to shut down an old card to make room for the new approval. I currently have SW personal and Business as well as priority club. I just paid the annual fee for the priority club since it comes with annual stay certificate and platinum status, i felt it was worth the $49 and leaving it open will give me a card with chase that is over a year old.
I need to charge $20 on it every once in a while or they may shut it down for inactivity like barclaycard just did to my choice rewards card, without warning (itches with a capital B).
Anyway after July my SW cards will have 7 months on them and be useless so I will cancel and apply for something else.
Chase has some good cards to choose from but is the worst bank of the bunch as far as fees, jacking fees, denying apps, coming up with bogus reasons for denying apps, treating the customer like a number, and being a big evil corporation in general. they will screw you every chance they can so why not return the favor?
I use amex or cap1 for most charges, chase is just for sign up bonuses to earn and burn.
On CC accounts they have me pegged to 3 cards max...don't know why but for me that is the number no matter how long between apps....I use them for a while then after 6-12 months cancel them.....this last time I waited until I got the denial letter and called and agreed to shut down an old card to make room for the new approval. I currently have SW personal and Business as well as priority club. I just paid the annual fee for the priority club since it comes with annual stay certificate and platinum status, i felt it was worth the $49 and leaving it open will give me a card with chase that is over a year old.
I need to charge $20 on it every once in a while or they may shut it down for inactivity like barclaycard just did to my choice rewards card, without warning (itches with a capital B).
Anyway after July my SW cards will have 7 months on them and be useless so I will cancel and apply for something else.
Chase has some good cards to choose from but is the worst bank of the bunch as far as fees, jacking fees, denying apps, coming up with bogus reasons for denying apps, treating the customer like a number, and being a big evil corporation in general. they will screw you every chance they can so why not return the favor?
I use amex or cap1 for most charges, chase is just for sign up bonuses to earn and burn.