Happy

I have suggested this theory from the beginning of the tightening - that is, for the co-branded cards, especially those that Chase already paid for the awards such as UA, Chase will not restrict the card issuance as they have already incurred the cost. However the In-House UR pt is a different animal.

As for the balance, out of the cobrand partners, UA already signed a renewal with Chase. Hyatt is a very small player, so as Fairmont. IHG has never been in the main stream of Chase portfolio. I dont know how long a history with Chase cards but I can tell you the Priority Club card behaved very differently from other Chase partners' cards, even the application form looked completely differently. One more thing of note is, IHG went from a Visa to a MC when Chase was in transition to a total VISA shop by eliminating Ink Plus MC. The coming Mysterious Promotion or whatever name it is called, the condition is to pay IHG stay with ANY MC, not just its cobranded one.

NONE of Chase partners has the clout of Costco. Citi gets Costco at a very high price such that Costco basically pays 0 fee to Citi for its cards being used at Costco. AMEX considers this is too detrimental to its P&L and let Citi have it. It remains to be seen how much Citi could make out from this deal as unlike AMEX, Citi does not own a processing network, and any mastercard can be used at Costco. All Citi gains now, is the AMEX Costco would be auto-converted to Citicards and it hopes the cardholders will use the same card elsewhere. Would it be enough to make up the Free Ride Costco enjoys? The industry experts are very doubtful.

Over the years, Chase has been a much smarter player in credit card business than Citi. Less be assured that Chase does not go into the current mode without a well-thought out plan. The 24 months bonus rule is an important step to prevent rapid churning in cobranded cards. The next thing followed is to reign in the award cost on the in-house cards. This includes the 0% BT on the Slate, hence it is also subject to the 5/24 rule. I am just amazed by the whining and complaining on this thread on Chase business decision. It is very laughable to think our spends are important to Chase. I never do, as I know I get more from Chase than Chase gets from me.

The folks insist how important their spend is to Chase, would be well advised to learn how to read the company's 10K and learn a bit on how the company's revenues and profits are derived.
There are 5 business segments
Consumer & Community Banking
Corporate & Investment Bank
Commercial Banking
Asset Management
Corporate/Private Equity

Credit card business is in the Consumer and Community Banking segment. Just by the name of the other 4 segments people should know, the big money is NOT from the CC.

N_Phoenix

I guess that makes sense, since the AU is actually a new card for that user. I was hoping to add AU's across both our cards for Amex deals but don't want to the possibility of eliminating Chase for that long.

TMM1982

Happy is a smart dude

G2244

This may be a stupid question but I will ask it anyway. Does the 5/24 rule include charge cards as well as credit cards? I assume so but am not sure. I opened an AMEX PRG earlier this year (charge card vs. credit card) and am wondering how that gets counted.

Thanks

TMM1982

Pretty sure it does

beltway

I suppose she is, in a manner of speaking.

IIRC charge cards are not counted.

bobert24

I know some CC companies do this, but I can't remember if Chase is one of them: Does a targeted offer override the 2 year requirement between earning bonuses?

I got a targeted offer for Ink Plus in the mail (addressed to Business Owner, with my business name). The business is a legit LLC with an EIN. The offer is 60k for $5k spend, AF waived the first year.

The problem is, this business already has an Ink Plus. Two, actually. I got them both this year, and got the bonus on both (don't ask - long story). I would think this would be the last business they'd be offering yet another card to.

Any clue if I'd actually be eligible for the bonus? I definitely wouldn't mind picking up another 60k URs, especially with no AF, but I don't want to waste a HP and 5k spending for nothing.

ttonev

A few months ago I applied in branch for CSP after I was told by a banker that I was preapproved. I was in clear violation of the 5/24 rule by about double. Today a friend got the same exact experience under similar history.

This may be good for a data point but the question is should my friend apply for one more Chase card on the same date to save a pull or this could lead to an audit of some kind and have the CSP canceled?

aglasgow

Same here. I'd love to know the answer to that one too. I don' recall reading any data points on this senario.

bobert24

Were you and your friend approved for the CSP? You got the bonus, etc.?

The second card will almost certainly not be automatically approved, which means that a human somewhere will look at it. There's no way of knowing which department, how much power they have, etc. But my personal experience (from about a year ago) is that when I applied for a second card on the same day and had to call in, the rep couldn't even see the first (automatically approved) card. It may take a little time to work through their system.

bobert24

I believe that's correct, because they don't show up on your credit report. The inquiry does, but not the account. Someone correct me if I'm wrong - I'm not somewhere that I can check right now.

EDIT: I'm wrong. See below.

Irish80

Charge cards definitely show up on your credit report. I think you are confusing them with business cards. As for whether they count in the 5/24 'rule' I'm pretty sure that they do.

odin99

probably most especially if they are chase business cards. chase would be able to see those.

bobert24

No, definitely not confusing the two, but you're right - I checked, and charge cards do show up on your credit report. Can't say for sure what that means for them counting in the 5/24 rule, though.

sdsearch

Happy is indeed smart, but she is not a dude.