emes001

First and foremost: new to this hobby as of November last year... found these forums (and awesome information) a tad bit later than that.

I recently applied for an Ink Plus on 1/12; it went to pending, and I got a denial letter on 1/20 stating "too many recent inquiries." I can understand that since I opened up a United MPX Biz in late November (initial pending, then approved), followed by a CSP in December (initial pending, then approved) and finally a Freedom in early January (instant approval). Fortunately the Ink Plus app did not result in a HP (so I still only have 3 at the moment).

What I'd like to know is how long should I wait prior to resubmitting an application for the Ink Plus? +30 days from the Freedom application, +30 days from the recent Ink Plus application? +60? +91?

I currently have no plans to open more accounts until securing the Ink Plus, and I'll need to focus the majority of my spend on that instead of spreading it out. After this "round", I'll do 91 days between churns.

Thanks.

sdsearch

Why in the world? Do you really need 27.5k CL on the Freedom card if you're considering cancelling it?

I bet the problem is not the card, but (a) the fact that it's got 27.5k CL on it, and (b) that Chase won't transfer from it.

But if you instead ask to have the CL on it greatly reduced, then try again in a few weeks to a few months, chances are they won't hold the Freedom against you any more if it's only got a modest CL on it (say 3.5x times your typical high statement amount). At the very least, if the CL on the Freedom doesn't "stand out", even if they say you have to cancel some card, they won't tell you which card. The fact that they told you the Freedom was the one you had cancel was because they didn't like you having "too much" CL on that card. (But Chase will never suggest you reduce the CL; you have to learn that elsewhere, such as on FlyerTalk.)

Even if you're maxing out each quarterly rotating bonus somehow, if you spread that out over the 3 months of the quarter, it seems to me you should be able to get by with way less than 10k CL. And if you're nowhere close to maxing out each quarterly bonus (because you don't "force" spending in those categories, just use it for "natural" spending in those categories), you can probably reduce it even more.

Trying to apply at any bank for a new card when there's a "too high" credit limit on a existing card is a great of getting denied these days. Proactively reducing credit limits as soon as you can (because reduce credit limits "take a while" to be available to new card applications) is a big key to increasing the likelihood of future approvals at the same bank.

illesus

Useful notes, thank you. I didn't even think about the pitfalls of a high CL. Still my question is whether if I move around some CL via Chase secure message, can I appeal the denial of the new card approval in the upcoming days (either by another secured message or replying to the denial letter via snail mail)?

jalabi99

Still on that CSP high, six hours later


These questions still stand, [Moderator note: Questions are- Can I apply for more Chase cards now/soon?] but I am leaning towards waiting until I actually have the CSP in my hand before I apply. Two hard pulls in a week won't kill me especially since my overall utilization has automatically been whacked in half thanks to the addition of the CSP CL. The only other card I want to get is the Citi® Hilton HHonors™ Visa Signature® Card, because the targeted offer I got in the mail (60K points sign-up bonus) expires March 31. I figure that I'd better try for the Freedom and Ink Plus before I get 5/24'd, then get the Citi, and I should be good. I don't see myself needing or wanting any other cards for the rest of the year, or even until 2017. Juggling four credit cards should be more than alright.

Once again, thanks to you all.

emes001

Do you have any other apps that would count against you for 5/24 that you haven't mentioned (e.g. "I signed up for 2 cards last summer")?

I waited 31 days (entirely coincidental) between my apps between CSP and Freedom. CSP went pending at first, then auto approved (never called, just happened to see the email) and Freedom was instant approval. I recently tried applying for the Ink Plus, which went to pending and later denied for "too many recent inquiries" (see my previous post a few up... #2822), so you may want to spread out your apps just a tad. Then again, YMMV.

If I were you, I'd definitely try to finish out the trifecta before going for the Citi card (which I too have been looking at).

Best of luck and keep us posted.

RobertHanson

Actually, if you are maxing out the quarterly bonus, spread over 3 months, you should be able to get away with a $500 CL. Because the max for the bonus each quarter is $1500. Yes, if you were to lower it to $500, spend that much, and let it post to your statement, you'd be at 100% utilitzation, which is not good for your credit rating. But if you were to lower it to $3000, spend $500 a month, which is all that makes sense bc everything over $1500 a quarter is only 1 point per $, and then pay that $500 off before it posts to a statement, you'd be fine.

Not even sure how you got $27K on a Freedom. Despite having given me @$25K on other cards, Chase gave me a mere $3K on my Freedom, and I'd have been content to leave it there, but after some time they raised it to $6K without even asking me. If they were to raise it again, I'd ask them to lower it back. I'm going to put most of my spend on cards that give me more than 1 pt per $, so why would I even want a higher CL?

BTW, $27K is the MAX I would ever want from Chase, spread over the usual 5 or 6 cards I have from them. More than that seriously jeopardizes your chances of auto approvals from Chase. And the last thing you want to do lately is to call Chase Recon.

ajc1970

heh, my wife's Chase Hyatt Visa had a $28K limit, then one day (just 2 weeks ago) I checked her account and they'd increased it to $44K. in 1 un-requested and un-notified swoop, the "home-maker's" limit on her only Chase card surpassed the combined limit on all 6 of the "money-maker's" Chase cards.

the card issuers do routine reviews and often increase your credit lines, without notification, unless you call them (for every card) and ask them not to.

my last Chase card was approved for only $5k too -- the low limit on your Freedom card probably isn't because of the card, it's more likely that you're approaching the max combined limit that Chase is willing to extend you (at this point in time -- for me that limit has grown over time, but I call in to reduce AND FREEZE the limits).

sdsearch

I don't know if Chase will let you "move around" CL, just that alone won't help anyawy. Moving your 27.5k to other cards doesn't reduce your total CL at Chase, and thus won't help with applying for a new card. You have to reduce your total CL at Chase by reducing your high CL on your Freedom card, not move it to some other card.

And reducing your CL does not make it available instantly at most banks (I'm not sure how quickly at Chase), so you may have to wait quite a few weeks perhaps, whether it's to appeal the denial or try a fresh app.

So, no unless reducing CL is much faster acting at Chase that any another bank, nothing you do with CL today will let you appeal the denial "in the upcoming days". A few weeks from now, perhaps.

So first reduce the CL on your Freedom as much as you can ASAP. Then come back to figure out how long to wait before appealing the denial. Any delay in reducing your CL will just delay everything else that has to come after that!

awardtravels

Just got the CSP early last month with a CL of 19k. I'm looking at getting the Ink Plus. Am I good to apply for it now or should I wait it out a little longer? I'm just starting out and only have 2 applications in the past few years. Planning on applying to Ink as sole proprietor of small business as web developer.

AirD0c

Thought I'd provide some data points for my Chase apps over the years:

Freedom 30k 1/12
CSP 40k 11/12
United 50k 2/13, closed 2/14
Ink Bold 50k 2/13, closed 2/14
Ink Plus 70k 6/13, closed 6/14
Hyatt 11/13, closed 11/15
IHG 80k 4/14
Ink Cash 30k 6/14
Ink Plus 60k 2/16

Didn't have any intention of getting another Ink Plus - but I kept getting 60k offers in the mail, so I decided to bite. I applied online on 1/31 using the link and offer code from the letter. Got a pending decision - the website asked me to call in as soon as possible to review the application; the email said they'd get back to me within 30 days. With all the stories of people having a hard time on the recon lines, I decided to just wait it out. I don't have a "real" business, but I do have a FICO score of ~830. Was happy to get the approval email today for my 4th Ink (Bold, Plus, Cash, Plus) ^

jalabi99

Nope. I have no other cards, nor have I applied for any other cards. I only have one inquiry on my credit report (from my Sallie Mae student loan application) in the past eighteen months, and the other two inquiries in that timeframe have fallen off.

Noted.

That's the plan. My CSP is on the way and should be here by tomorrow morning. I will decide then which of the two left in the trifecta I will apply for first tomorrow. The other one I will apply for in mid-March, along with the Citi. Which is a pity because I have a lot of travel planned for mid-February where that Citi could have come in handy. I guess I'll have to use the CSP for that instead. Some problems, eh?

Thank you, will do

illesus

FYI you can 'move around' the CLs easily by sending a secured message to Chase and they reply and perform the request in 24 hours (used this feature last year and yesterday).
After the first reply on FT last night I sent a message and distributed the CLs appr. evenly between the CCs and removed $10k ($50k->$40k) CL from Chase. So this works and almost instant. Now the question is whether this is enough or the CL should be lowered more aggressively. I don't plan to add further Chase cards this year and will definitely close one in Q3.

intertim

I applied for the CSP and I'm well within 5/24 and I got the "we need to review your application a little longer" dialogue. I was naively expecting an instant approval with my good credit and income, and I was intending to apply for CSP and Freedom on the same day. Should I wait to apply for Freedom until I get approved for CSP or should I open an incognito window and apply for it now?

jalabi99

I applied for the CSP on Monday, February 1, and got the message "Thank you for applying. Your application requires further review before making a decision...Our goal is notify you within 10 days; however in some circumstances it may take up to 30 days..." On Wednesday, February 3, I got an email with the subject line "Welcome to Chase Sapphire Preferred®". UPS sent me an update just a few minutes ago, telling me that my card will be delivered tomorrow.


Therefore, from my recent experience (i.e. within the past three days), I would advise that you wait.

intertim

Thanks for the advice, will do. Do I need to wait a certain amount of time after being approved for CSP before applying to Freedom or can I just jump right in?