trouble747

Applied for IHG card. 1 Chase card in past year (Freedom). 5 overall. 12+ inquiries on report. Score around 750.

Had to call to shift some credit around, but was approved.

mhdena

Looks to me like calling and shifting credit around if need be is just has effective as lowering, in fact maybe preferable. JMO.

mhdena

I was offered to exchange a Flexible reward card to a CSP a few months ago, no credit pull, no bonus, AF due immediately, instead I exchanged it for another Freedom now have 2.

I also now have a CSP, and 2 Inks. My category spend with the Freedoms and Inks will more than offset any fees year after year.

I think it will depend on how many opening and closing of cards they see will determine if they will allow a change back to a CSP.

michael_v

That poster is wrong about inquiries on credit reports: they show up instantly. I always apply for Citi cards first in my application cycle - I learnt my lesson long ago.

knowledgeispower

Unfortunately that's not the case. Shifting credit around works if the representatives feel you haven't opened too many cards recently. In my case as well as in many others the reason the app is pending and requires us to call in is because we've reached our max limit with chase (at least it seems for co-branded cards). However when calling in the reps who are reviewing the apps see many open recent cards and are unwilling to move credit around.

I have in the past been approved for many Chase cards with the same total overall limit by simply moving credit around and this is the first time it was denied. It makes no sense why they would deny it because shifting around credit does NOT increase their risk as they are not extending any more credit. However when I mention this they mention the too many recent cards open and THAT is why they are denying the app.

The point with lowering the credit limit is to allow the app to be auto-approved without the interaction with a human representative. Having the max credit with Chase based on your income prevents the computer from making that decision and severely hinders the chance you will get approved (although as you can see it is still possible to be approved if the rep feels you haven't opened too many cards - whatever that number may be - and will allow you to move around credit as the above poster indicated). Also in my case complaining to a Senior Analyst may allow them to overturn the denial even with many recent cards open if you have a positive relationship with Chase in the past but YMMV.

RNE

Merit? I don't question the merit of ideas in opposition to my own. Indeed, it is my views which have not received the merit they deserve.

That said, let's agree that it's better not to have to call Chase. It's better to be auto-approved and go on one's merry way. The question then is, How is auto-approval best achieved? Yes, if you are near Chase's maximum credit limit, lowering it should help. There. Everyone happy?

But I've already advocated an annual review of one's credit utilization. That's nothing like "structuring" credit limits to avoid the maximum. Doing that is a red flag to Chase that you are a rewards chaser. And don't kid yourself that the auto approval program cannot detect it. It can. Thus, to those who blithely intone "it cannot hurt to lower credit limits," I say "Yes, it can."

Even if I'm wrong, a lowered limit will not stop the auto approval program from flagging one's umpteen cards in the last (whatever) many months. Nor one's closing of 1st-year-annual-fee-waived cards just before the second year. Or failure to put non-category spend on cards. Or failure to put some decent amount of spend on all cards. Etcetera.

RNE, advocating a wholistic approach to Chase. It's so much more than credit limits.

Big4Flyer

For what its worth, when the new Chase rules came out I went to my Chase banker and asked if it would be possible to upgrade my Freedom to a CSP, he didn't even hesitate and asked if I wanted him to do it right now. I told him I wanted to think about it since I'm thinking about going for an Ink instead.

I'll probably wait for a few months, and apply for the Ink in-branch. If declined I'll change my Freedom to a CSP, transfer out all of my UR points, then change back and use it only for a bonus spending.

starbuk

For me it's tough to only review CL once a year or so because they give me such a high limit on new cards that I fear I would blow past my allocated CL with every new card. The latest card was for $30k CL and that puts me just above 50k total across 3 cards. Can't really wait a year if I need to apply again. Just so happens that I probably won't be applying for another Chase card for a long time, and yes, I won't reduce CL until that happens because there is no reason to get that far ahead of myself, which is I think what you are advocating. I just know that I will have to deal with Chase recon at some point and to that I do not look forward.

sdsearch

Maybe, maybe not. There were old Chase rules against churners, and now there are additional Chase rules against churners (since May). The old rules were about how your use of Chase cards made you seem like you were getting them "for rewards only". The new rules are how many cards with any bank (regardless of whether they're Chase) you've opened, even if you've never shown any "for rewards only" behavior at Chase. Until we get datapoints from people who've not shown any "for rewards only" behavior at Chase who are denied for Marriott cards simply because they applied for more than 5 cards with other banks in the past 2 years, then we won't know whether it's really new rules being applied for Marriott or whether your application was denied under the old rules (despite whatever the agent may have told you to get you off the phone).

Btw, while Chase phrases it as "for rewards only", I presume they specifically mean "for big rewards only". They can't tell if you're using a card day in day out only because you like its rewards or because you like something else about it. They can tell if you're using a card only up to the point of satisfying the terms of a bonus (signup or otherwise) and nothing more. How many aspects of your spending they're looking at is not clear. Yes, they're looking at signup bonus spend and no spend after that. But are they also looking at whether you only spend at categories where you get more points, or not? I don't yet recall a datapoint which said "you've been using our cards a lot, but you never use any card in a situation where it earns the least points". So I can't tell yet whether Chase minds that I use my Marriott card only at Marriotts, as long as i spend $$$ a month on it, many months of the year, on it. Similarly, I can't tell yet whether Chase minds that I use my Amtrak card just enough to keep it alive, because I'm not after earning awards with it as much keeping my existing awards from expiring (holding that card is the only way to do so if you don't ride Amtrak regularly). And that's a "benefit", not a "reward".

knowledgeispower

Very much agreed with what you're saying. My personal opinion (not based on any facts) is that they cannot discriminate based on specific category only spend (at least not with just a basic credit report). From what the reps seem to have been telling me is based off of just my credit bureau report because they only can see the carried or reported balances. I am sure they can look more into the detailed spend for their own cards but whether they care to do that is another question. At the end of the day it doesn't make sense to say you can't use our cards if you're only using them for the highest earning categories...that is not part of the cardmember agreement. Yes opening an account just for rewards (ie sign up bonus as you said) does violate their terms, but I don't see anything about discriminating what you can or can't spend on the card...

brownie20

thanks everyone for sharing their experiences with the new chase approval process. i don't remember reading about backdated amexes (at least i don't think anyone mentioned having one) - anyone know if an amex that was automatically backdated counts toward the 5 card limit? i was looking at a family member's credit report and i noticed one of their amexes isn't showing up as opened in the last 24 months because it was backdated, and since they're sitting at exactly 5 approved cards in the last 24 months would love to know if anyone had any similar experience? thank you!

aradisc

Some of the folks who have had their accounts closed by Chase for "perk abuse" get this line.

knowledgeispower

Yes but it is usually combination of things that include churning cards and MS. I have never seen a report of someone who got shut down just because they use a card to earn the highest category rewards. If you have let me know because I would like to know if this is a real concern or not.

RNE

Ditto. But aradisc is on the right track. Chase can be capricious if it wants to be. Therefore, one would be prudent to keep on Chase's good side by putting a smattering of general spend on reward cards.

That said, I don't follow my own rule in the case of hotel cards. For instance, I got my Marriott card to use exclusively at Marriott properties. Similarly my IHG card. I think Chase accepts that behavior may occur—but it will look askance at house cards that have category-only spend. E.g.: Freedom, Ink, Sapphire.

RNE, advising that if you squeeze the goose too hard, it'll stop laying golden eggs.

joscofra

I've been following this thread since May and would like some advice on timing.
I definitely want the Ink+, and despite concerns that no matter what I do I will be denied I want to make a best attempt.

last 24 months:
1/15: Chase BA - had to close 5/15 to open Freedom
2/15: Barclay Aviator
2/15: AmEx PRG
3/15: Citi PS AA
5/15: CSP (called recon after pending and they approved quickly)
5/15: Freedom (had to call recon 3x and they finally relented after proposing to close BA)
also in there is a silly Synchrony Amazon card that I inadvertently got.

So as you can see, not very good odds, but I'm willing to risk an HP. I'll apply for the AmEx biz gold if I'm denied.

Q: I'm thinking to apply after Aug 25 (last card was approved May 15) online with no recon calls no matter what. Should I wait longer? Would a month or 2 waiting make any difference? If I apply for the AmEx I would need to get it by Dec to put property taxes on it - am aiming for the 75K bonus for 10K spend. Ideally I could do both if the Ink is approved by Sep.

any thoughts? thanks.