hungryhungryhippo

Yet another data point: I was auto-approved for the Southwest Visa last week. Have had at least 7 new cards across all issuers in the last 24 months, including CSP and Ink Plus. Was turned down for United Business card a few months ago due to too much credit/ not enough income from business.

pritomd

Soooo I recently got a Citi Premier and Prestige. I am planning on diversifying and adding an Amex EDP and possibly PRG, and a CSP over the next year or two.

Based on the rule that Chase is tightening up on churning and will consider if you've opened X number of accounts in past 2 years...should I start my next card as the CSP? Because if I got the EDP/PRG, I'd already be at 4..........(and I am not sure but I may or may not have one from two years ago).

EDIT: I'm also thinking if it's even worth it to get into CSP. I am keeping the Prestige as a benefit from work allows me reimbursement for lounge access. The Premier has great earning on my Ubers/gas. Then I wanted the EDP for the grocery bonus and the PRG just to boost me up in MR (and maybe use it for restaurant spending)...so that sort of makes me question if I need a CSP as far as earning rates...but then the transfer partners come in and I hear about how great UR partners are compared to MR and TYP. I'd mainly be travelling between DC and Europe as far as how I plan to redeem...not planning to redeem too much for domestics.

snic

It depends on what your goals are for TATL tickets: Do you need just 1 ticket at a time (relatively easy) or do you need to redeem for a spouse or family as well (needs a lot more points going to one airline if you all want to fly together)? Are you looking to redeem for economy or premium cabin? The bottom lines is this: can you put enough spend on the CSP so that you will have enough (in bonus+spend points) to redeem for the ticket(s) you want in a reasonable timeframe? (BTW, you should consider opening a Freedom card as well, if you're going to go the route of applying for Chase cards first.)

Unfortunately, the only airline that allows transfers from all three major CC points programs is Singapore. You can get to Europe on Singapore (JFK-FRA), or you can book Star Alliance partner flights via Singapore - although they impose fuel surcharges. UA doesn't do that, so a reasonable strategy if you just need 1 ticket at a time would be to build up enough UR points for a ticket on UA or a partner, then switch spend to other cards.

In my case, I'm aiming for 3 business or first class tickets to Australia, which will require maximizing UR, MR and TY sign-up bonus points, maximizing category bonuses, buying a lot of crap over the next couple of years (I don't do MS) and then redeeming through Singapore (ideally, FOR Singapore tickets, as they have an excellent product).

trouble747

Good luck with that!

Brugge

I don't understand the question. Of course you want a CSP, and a Freedom, and right now you can get both. But if you apply for the other cards first, and I can't see any reason for that, then you are not going to qualify for them for another 2 years.

The CSP has no fee the first year, a 40K point sign up bonus, another $5K points for adding an AU to your app, and a min spnd of $4K. So there are 49K points. The no fee Freedom currently has an increased sign up bonus of 20K points. So an easy and no fee 70K points. Then use the Freedom for bonus categories, 5X per $ for the first $1500 each quarter, and there is another easy @5K + points a year. So an easy peasy 75K points.

IMO the Premier is a superior card to the CSP, and after doing the min spnd and category spend on the Chase cards, I'd put travel, dining, gas etc on it instead. But that's no reason to not get the Chase cards now while you can.

EDP comes next, as the 4.5X on groceries is great, and it's not that hard to make 30 charges a billing period. You get that on the first $6K a year, which when you consider that GCs from grocery stores count too, there is another 27K points a year.

The Freedom offer is only good thru June 24, so I'd get that now. Spend on it so Chase sees you as a "good customer", then in a few months pick up the CSP. The moment you are approved for the CSP, you can immediately apply for the EDP, AMEX won't bat an eye over the Chase apps, assuming you have a decent credit history.

Just my two cents....

jonnydoe1234

I have always decreased credit lines prior to applying for new cards. Across all issuers (including Chase), it has worked (never been turned down in the past several years for a new card), and I apply for lots of cards. The only time it did not work was when I tried to get a second Chase business card -- that did require speaking with a Chase rep, and I eventually got approved.

However, I have no datapoints on Chase since the policy change.

pritomd

Thank you both very much! I think regardless of what cards I want to end up with, I need to hop on the CSP/Freedom since I do plan to eventually start UR and because of Chase's rule I should get those so I'm not locked out for two years.

Brugge

^

PNT

Hi, I'm new to this game. Can someone please clarify if Chase 5/24 policy is 5 credit cards or 5 inquiries?

My situation - I got 4 credit cards the last 2 years (1 US Airways MC, 1 Citi AAvantage MC, 2 Chase Southwest personal and business) but 7 inquiries due to the mortgage refinance. What is the chance for me to apply both CSP and Freedom in 1 day. My current FICO 813. TIA.

knowledgeispower

As far as we know its actual cards not inquiries (includes cards you've closed as well). You would probably be fine with the first one you apply for but might be denied for the 2nd one (can't tell you for sure). I would plan to open the one you most want first and then risk opening a 2nd one after that.

The problem is chances are your first one will be autoapproved which means it will probably extend your credit with chase to the max allowed based on your income/score. So then what I would do is call in and have them lower your credit line maybe for the Chase Southwest card. Then risk opening a 2nd card and if you're lucky it will be auto-approved (but again there is a chance ofr denial)

snic

Cards, not inquiries. Your chances are good for getting at least 1 card (I have no experience with trying to get 2 in one day), especially if the SW business card doesn't show up in your credit report. Keep in mind that if you are an authorized user on someone else's card, that is likely in your credit report and will contribute towards the 5. And that it's not a hard 5, but a soft 5 that varies according to other factors.

bgriff

Is the "traditional" Chase application strategy to reduce CLs on other cards held with Chase, or do CLs with other lenders also seem to matter (or do we have any idea)? I am planning to apply for the CSP soon with 4 new other cards in the past 2 years, and have one Chase card (Freedom) with an $8K credit limit, but several cards each with much higher limits at Amex and a few other lenders. Any thoughts on whether lowering the Amex limits would have any value, or do they not matter?

knowledgeispower

The business card will be included if it is with Chase at least in my experience; the recon line agent listed it for me as part of my recently opened cards that contributed to the too many cards (its not reported to any bureau but because it is with Chase they know about it)

knowledgeispower

In my experience having high limits with other banks only increases the likelihood of the bank you apply with giving you a higher limit. However I am not sure if this has changed recently but no one has brought it up to my knowledge when speaking with a recon agent.

rrgg

I had an odd conversation with Citi a week ago. I inquired about reducing the annual fee on my Citi Business Visa and was asked if the annual fee is the reason I had closed several other accounts. I didn't know what she meant at the time, because I had only closed 1 Citi account in 3-4 years (and I have old cards with Citi including a 16 year old AA MC).

I wonder if banks in general are now reviewing more credit report data than before. The rep must have noticed my other closures with Chase and Barclays.