Here is another data point that confirms my theory that the less monkeying around and calling, the better...
Recent Chase History: Disney - 2008 - Have been using for BT $7K limit IHG - Jan 2014 Instant $14K limit Slate - Apr 2014 - Instant $10K limit. Reallocated $10K from IHG for $20K and took BT Ink Bold - May 2014 - Denied, too many new cards w/ Chase. Did not call recon. Southwest - Sep 2014 - Instant $15K Sapphire - Feb 2015 - Instant $20K In addition to Chase, I have added Citi AA, Citi Biz AA and BoA Alaska cards in last six months. Six additional cards in the last 12 months. On Sunday May 10th I applied for both the United Explorer and Ink Plus cards. Both were deferred. I think I used a private browsing window to avoid cookie issues, but did not try different browsers. Hard pulls combined when reported as far as I have seen. On May 18th I noticed the United account appear when I signed into Chase with a $5000 limit. Got a denial letter on the Ink a day later for too many new accounts, too many pulls, not enough business income (reported $500) and late payments (one 30 day screw up on a Kohls card five years ago). I got both the approval letter and card (in separate envelopes) today. Approval letter states: As part of our review of your application and credit file, we looked at the credit you already have with us. To open your new account and provide the highest possible credit limit, we've adjusted the credit line on your other credit cards based on your use of these accounts. Here's a summary of the adjustments: Account ending in XXXX - DECREASE 20,000 to 15,000 My conclusions: 1. There is a ceiling to how much credit Chase will give you, and in my case that is about $68K 2. You do not need to call for Chase to approve w/ reallocation from another card. They will move lines from your unused credit. I'm fine missing out on the Ink for now. I would have had to work harder than planned to hit minimum spend on both since the RedBird died just after my app was done. I'll give Chase a break for six or more months before I poke them again. Edit: They actually took the limit from my Slate card, not the Sapphire. That is a bit annoying as I have $11K of 0% money on that one so it may hurt my FICO for using so much of one line. It expires and will be paid off in a couple months anyway and I am laying low for a few months on new apps, so I probably won't bother calling to adjust. |
Originally Posted by Brugge
(Post 24854805)
I'm wondering if the folks who are reporting denial for "too many new accounts" have been putting spend on their open Chase accounts. Starting a bit under a year ago, I started making sure we spend on every open Chase and Barclays card every month. More on the more useful cards of course, but at least a couple hundred on every card every month.
I have no idea, but I'm wondering if "too many new accounts" is Chase speak for 'why should we give you bonus points when you don't spend on our cards'? |
Don't Bother With Chase Business Cards
Don't Bother With Chase Business Cards...unless you have very few recent accounts open, and have Chase cards that you've had for 5 or more years.
DW just got denied for an Ink Cash, not Plus just a Cash, with a Bus net of over 60K, a household income of 6 figures, a CR around 800. They said they want to see more credit history, especially since she was approved for a Brit Air card and a UA card within the last year. While being non-specific, almost to the point of evasive, "I'm not a licensed Financial Advisor, I can't give Credit Advice" was the response to how long to wait until applying again for a Chase Bus card :rolleyes: He mentioned that her only Chase card, currently open that's she's had for 2 years is her CSP. Two years of flawless payment history isn't enough? Not to mention the Chase cards she had over 2 years ago that are not currently open? We spent $50k over 2 years on her previous Brit Air card alone. But I guess since that's no longer open, it doesn't count.:mad: AMEX was happy to give her a Bus Gold card when her business was only 3 months old. Now that it's 9 months old and is bringing in significant profits, Chase doesn't trust her with a lowly Cash card. Fine, as I told the Chase CSR, that means her $20K a year of Bus expenses will stay with AMEX. Something he seemed quite content about. :confused: |
I've been saying four things repeatedly.
Originally Posted by beltway
(Post 24853678)
I realize YMMV...
For laughs, here is my "Grade Overview" from TransUnion. A On-time Payments 100% A Oldest Credit Line 34 yrs. A Credit Utilization 4% D Recent Inquiries 7 D New Accounts 10 A Available Credit $159,076.00 |
MP card ?
I had united MilagePlus explorer back in 2012 and closed it spring of 2013 as i had to make room for my apps that year. Since the bonus is up to 50k , would it be ok or am i eligible to apply for the cards and points?
thanks, |
Wirelessly posted (BlackBerry: BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)
"would it be ok or am i eligible to apply for the cards and points?" Huh? :confused: |
Originally Posted by guv1976
(Post 24856040)
Wirelessly posted (BlackBerry: BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)
"would it be ok or am i eligible to apply for the cards and points?" Huh? :confused: |
Wirelessly posted (BlackBerry: BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)
It's been reported that one can get bonuses on any particular Chase card every 24 months. So if you got the bonus before May, 2013, you should be able to get it again now. |
Originally Posted by guv1976
(Post 24856081)
Wirelessly posted (BlackBerry: BlackBerry8530/5.0.0.1030 Profile/MIDP-2.1 Configuration/CLDC-1.1 VendorID/417)
It's been reported that one can get bonuses on any particular Chase card every 24 months. So if you got the bonus before May, 2013, you should be able to get it again now. sounds good i may go for this card for both myself and spouse. Thanks !! btw good to see you're still active on this board. you've helped me in the past on several occasions ! :) |
Originally Posted by beltway
(Post 24853678)
I'm not denying that others may be having a different experience. I would, however, venture an opinion that Chase hasn't tightened up on personal cards for everyone.
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Originally Posted by guv1976
(Post 24856081)
It's been reported that one can get bonuses on any particular Chase card every 24 months. So if you got the bonus before May, 2013, you should be able to get it again now.
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I just got auto-approved for a Chase Ink Plus.
Should I apply for another business card before the day ends to take advantage of combined pulls? Or will this be pushing it with Chase? |
Originally Posted by Light
(Post 24863396)
I just got auto-approved for a Chase Ink Plus.
Should I apply for another business card before the day ends to take advantage of combined pulls? Or will this be pushing it with Chase? |
Originally Posted by beltway
(Post 24863627)
Unless you have a six-figure income, a FICO above 830 (on a scale of 850), and relatively few recent Chase apps, I'd say your odds of success are minimal.
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Originally Posted by Light
(Post 24863768)
Tried it. Sent to review. These are my only two Chase apps this year. Have six-figure income, FICO is ~800. Does this mean I have a chance?
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